Trader’s calendar for February 28 – March 1: Deluge of economic data to flood markets.


As we have mentioned in the previous edition
of a video calendar, the second half of the week is going to be rather eventful. What are these events? To find it out, watch traders’ calendar
on InstaForex channel. Tomorrow will start with publication of China’s
PMI data that will provide an estimate of activities in big manufacturing enterprises. It is one of the most important economic indicators. Last month, the manufacturing PMI showed contraction
of activity in the key sector of the world’s biggest economy. Analysts expect the index to remain unchanged
in February. If the actual reading comes in line with the
forecast, then the Australian dollar will lose ground while safe-haven assets such as
the Japanese yen will strengthen. During the European trading session investors
will absorb the inflation data from Germany. The preliminary estimates will be released,
and analysts predict that the consumer price growth will accelerate. Thus, the CPI is expected to rise by 0.5%
on a monthly basis and by 1.5% in annual terms. This news is likely to have a positive impact
on the single European currency. Later in day, the euro can get additional
support as the United States will unveil the preliminary report on the GDP growth rate. It is the most-awaited report of the week
that intrigues traders. Experts predict a slowdown in the American
economy. The gross domestic product is expected to
rise by just 2.6%. The US dollar faces another challenge as Fed
Chair Jerome Powell will deliver speech. Lately, he has been alluding to the necessity
to adopt wait-and-see approach watch the economic developments. Every mention about Fed’s intentions to
postpone rate hikes triggers a selloff in the US dollar. These factors may prompt investors to buy
the single European currency. Moreover, the euro zone will release the CPI
report on Friday. Analysts expect the annual inflation rate
to speed up to 1.5%, as in Germany. At the end of the week traders will absorb
news from Canada. Buyers of the Canadian dollar will have a
chance to recoup losses incurred after a fall in oil prices. The report on the GDP growth rate can provide
them with such an opportunity. Most analysts expect the Canadian economy
to stagnate but some experts predict that the gross domestic product will expand by
0.1%.

Leave a Reply

Your email address will not be published. Required fields are marked *