What happened over the Weekend?
On Sunday, February 4, 2024, Powell mentioned in an interview that the Fed remains on track to cut interest rates three times this year, a move which is anticipated to begin as early as May.
Upcoming Major News:
Monday, February 5, 2024:
The ISM Services PMI data in the U.S. is scheduled to be released by the Institute for Supply Management at 7:00 PM, GMT+4 (Dubai Time). The market anticipates a drop, indicating industry contraction.
Tuesday, February 6, 2024:
The Reserve Bank of Australia is set to release its Cash Rate at 7:30 AM, GMT+4 (Dubai Time). The market forecasts that the rate is going to remain as is at 4.35%.
The Ivey PMI data in Canada is scheduled to be released by the Richard Ivey School of Business at 7:00 PM, GMT+4 (Dubai Time). The market forecasts a drop, signaling a downturn in economic wealth.
Wednesday, February 7, 2024:
The Unemployment Rate data is set to be released by Statistics New Zealand at 1:45 AM, GMT+4 (Dubai Time). The market expects a rise, presenting as an unfavorable economic indicator.
Thursday, February 8, 2024:
The Department of Labor is set to release the Unemployment Claims data in the U.S. at 5:30 PM, GMT+4 (Dubai Time). The market anticipates a decline, signaling an improvement in the labor market.
Friday, February 9, 2024:
The Unemployment Rate data is scheduled to be released by Statistics Canada at 5:30 PM, GMT+4 (Dubai Time). The market expects a rise, showing a decline in job market strength.
Earnings to Look out for this week:
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