Get ready for a week full of crucial economic news, including G20 meetings, Core PCE Price Index, Feed's inflation indicator, New Zealand's Cash Rate, and much more.
Let's dive deeper into each release and understand how they might affect the market.
Quantitative Data:
Tuesday, February 27, 2024
The Census Bureau is scheduled to release Durable Goods Orders m/m and Core Durable Goods Orders m/m in the U.S. at 5:30 PM, GMT+4 (Dubai Time). The market anticipates a drop for both. If this occurs, analysts suggest this could cause a decline in the value of the U.S. Dollar.
U.S. CB Consumer Confidence data is set to be released by the Conference Board Inc. at 7:00 PM, GMT+4 (Dubai Time). The market expects the figure to remain at 114.8, indicating no change.
Wednesday, February 28, 2024
The Australian Bureau of Statistics is scheduled to release the Consumer Price Index y/y figure at 4:30 AM, GMT+4 (Dubai Time). The market forecasts a rise, signaling a spike in inflation. If this scenario takes place, analysts believe it could boost the value of the Australian dollar.
The Reserve Bank of New Zealand is set to release the Official Cash Rate at 5:00 AM, GMT+4 (Dubai Time). Markets anticipate the rate to remain at 5.50%.
Thursday, February 29, 2024
Gross Domestic Product (GDP) m/m is scheduled to be released by Statistics Canada at 5:30 PM, GMT+4 (Dubai Time). The market anticipates the figure to remain at 0.2%, signaling no change.
Core PCE Price Index m/m in the U.S. is expected to be released by the Bureau of Economic Analysis at 5:30 PM, GMT+4 (Dubai Time). The market expects a rise, indicating higher inflationary pressures. Analysts believe that a reading in line with expectations could boost the U.S. dollar's value.
Friday, March 1, 2024
Manufacturing PMI is scheduled for release by the China Federation of Logistics and Purchasing at 5:30 AM, GMT+4 (Dubai Time). The market forecasts a slight drop, indicating a weakening in China's manufacturing sector.
ISM Manufacturing PMI in the U.S. is also set for release by the Institute for Supply Management at 7:00 PM, GMT+4 (Dubai Time). The market expects a rise, indicating an increase in the U.S. manufacturing industry. If the reading follows expectations, analysts suggest this could boost the value of the U.S. Dollar.
Qualitative Data:
The G20 Meetings, attended by finance ministers and central bankers from 20 industrialized nations, including the G7 countries, are scheduled from Wednesday to Thursday, spanning the entire day.
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