What to Expect This Week


This week, in the United States, Federal Reserve Chairman Bernanke testifies to the US Congress in a rescheduled hearing. In addition, the release of existing and new home sales data will give us a better view on the housing market recovery.

In the Euro Area, the Purchasing Managers Index (PMI) reading may show a recovery in the service sector but also a contraction in the manufacturing part of the EU economy. In Japan, exports are likely to show another month-over-month gain in February due to a stable demand from other Asian countries. That said, consumer prices will probably stay in deflationary territory. In the United Kingdom, we are looking for a decline in headline inflation from 3.5% in January to 3.2% in February. Also, industrial production should rebound in February after a severe weather related drop a month earlier. In Canada, Bank of Canada's Governor Mark Carney speaks on Wednesday and it is likely that he may signal a shift in the BoC's monetary policy. Finally, in New Zealand, fourth quarter GDP should expand at least 0.6%, thus bringing the possibility of a rate hike closer.


TradingEconomics.com
3/20/2010 4:15:51 PM