Week Ahead


Next week, the Federal Reserve, the ECB and the RBA will be publishing the minutes of last monetary policy meetings. Other important releases include: US existing home sales; UK second estimate of GDP growth, unemployment and wages; Japan inflation and trade balance; Australia wages; and flash PMIs for the US, Eurozone and Japan.

In the US investors will be waiting for the release of the FOMC minutes anticipating further clues on the timing of the next interest rate hike. Important data also include existing home sales, flash Markit PMIs and CB leading index.

It will be a busy week in UK: in the spotlight will be second estimate of GDP growth rate, alongside business investment, unemployment rate, wages data, CBI factory orders and public sector net borrowing. Elsewhere in Europe, the ECB will be publishing monetary policy meeting accounts. In addition, flash Markit PMIs will be released for the Eurozone, Germany and France. Other important figures include: Eurozone consumer confidence, construction output, current account and final reading of inflation; Germany final GDP growth, Ifo business climate and ZEW Economic sentiment index; and France industry morale.

In Japan, analysts are eyeing the publication of inflation, trade balance and the flash estimate of Nikkei Manufacturing PMI, while in Australia key data to watch include wage price index and construction work done. The RBA will publish minutes from its last monetary policy meeting.

Other important releases include: Canada inflation and retail trade; Thailand GDP growth and trade balance; and South Africa inflation.



Joana Ferreira | joana.ferreira@tradingeconomics.com
2/17/2018 2:36:08 PM



 


Friday February 16 2018 Actual Previous Consensus
08:00 AM
CZ
GDP Growth Rate YoY Prel Q4 5.1% 5%
08:00 AM
CZ
GDP Growth Rate QoQ Prel Q4 0.5% 0.5%
08:20 AM
EA
ECB Cœuré Speech
09:00 AM
PL
Employment Growth YoY JAN 3.8% 4.6%
09:30 AM
GB
Retail Sales ex Fuel MoM JAN 0.1% -1.5% ®
09:30 AM
GB
Retail Sales ex Fuel YoY JAN 1.5% 1.3%
09:30 AM
GB
Retail Sales MoM JAN 0.1% -1.4% ®
09:30 AM
GB
Retail Sales YoY JAN 1.6% 1.5% ®
01:30 PM
US
Building Permits MoM JAN 7.4% -0.2%
01:30 PM
US
Building Permits JAN 1.396M 1.3M
01:30 PM
US
Export Prices MoM JAN 0.8% 0.1% ®
01:30 PM
US
Housing Starts MoM JAN 9.7% -6.9% ®
01:30 PM
US
Housing Starts JAN 1.326M 1.209M
01:30 PM
US
Import Prices MoM JAN 1% 0.2% ®
03:00 PM
US
Michigan Consumer Sentiment Prel FEB 99.9 95.7
Sunday February 18 2018 Actual Previous Consensus
11:00 AM
IL
GDP Growth Rate QoQ 1st Est Q4 0.9% 1.0% ®
11:50 PM
JP
Exports YoY JAN 12.2% 9.3%
11:50 PM
JP
Balance of Trade JAN ¥-943B ¥359B
Monday February 19 2018 Actual Previous Consensus
02:30 AM
TH
GDP Growth Rate YoY Q4 4% 4.3%
02:30 AM
TH
Full Year GDP Growth 2017 3.9% 3.3% ®
02:30 AM
TH
GDP Growth Rate QoQ Q4 0.5% 1%
10:00 AM
EA
Construction Output YoY DEC 0.5% 2.9% ®
11:00 AM
DE
Bundesbank Monthly Report
01:00 PM
RU
Unemployment Rate JAN 5.2% 5.1%
06:45 PM
GB
BoE Carney Speech
10:15 PM
AU
RBA Bullock Speech
EA
Eurogroup Meeting
Tuesday February 20 2018 Actual Previous Consensus
07:00 AM
DE
PPI MoM JAN 0.5% 0.2%
07:00 AM
CH
Balance of Trade JAN CHF1.324B CHF3.374B ®
07:00 AM
TR
Consumer Confidence FEB 72.3 72.3
08:30 AM
SE
CPIF YoY JAN 1.7% 1.9%
08:30 AM
SE
Inflation Rate MoM JAN -0.8% 0.4%
09:00 AM
ES
Balance of Trade DEC €-2.05B €-1.62B
10:00 AM
EA
ZEW Economic Sentiment Index FEB 29.3 31.8
10:00 AM
DE
ZEW Current Conditions FEB 92.3 95.2
10:00 AM
DE
ZEW Economic Sentiment Index FEB 17.8 20.4
11:00 AM
GB
CBI Industrial Trends Orders FEB 10 14
03:00 PM
EA
Consumer Confidence Flash FEB 0.1 1.4 ®
EA
Ecofin Meeting
Wednesday February 21 2018 Actual Previous Consensus
12:30 AM
AU
Construction Work Done QoQ Q4 -19.4% 16.6% ®
12:30 AM
AU
Wage Price Index QoQ Q4 0.6% 0.5%
12:30 AM
JP
Nikkei Manufacturing PMI Flash FEB 54.0 54.8
04:30 AM
JP
All Industry Activity Index MoM DEC 0.5% 1%
04:30 AM
TH
Balance of Trade JAN $-0.12B $-0.28B
05:30 AM
NL
Consumer Confidence FEB 23 24
08:00 AM
FR
Markit Services PMI Flash FEB 57.9 59.2
08:00 AM
FR
Markit Manufacturing PMI Flash FEB 56.1 58.4
08:00 AM
ZA
Inflation Rate YoY JAN 4.4% 4.7%
08:30 AM
DE
Markit Services PMI Flash FEB 55.3 57.3
08:30 AM
DE
Markit Manufacturing PMI Flash FEB 60.3 61.1
09:00 AM
EA
Markit Services PMI Flash FEB 56.7 58
09:00 AM
EA
Markit Manufacturing PMI Flash FEB 58.5 59.6
09:30 AM
GB
Employment Change NOV 88K 102K
09:30 AM
GB
Average Earnings incl. Bonus DEC 2.5% 2.5%
09:30 AM
GB
Claimant Count Change JAN -7.2K 6.2K ®
09:30 AM
GB
Unemployment Rate DEC 4.4% 4.3%
02:15 PM
GB
BoE Carney Speech
02:15 PM
GB
Inflation Report Hearings
02:45 PM
US
Markit Services PMI Flash FEB 55.9 53.3
02:45 PM
US
Markit Manufacturing PMI Flash FEB 55.9 55.5
02:45 PM
US
Markit Composite PMI Flash FEB 55.9 53.8
03:00 PM
US
Existing Home Sales MoM JAN -3.2% -2.8% ®
03:00 PM
US
Existing Home Sales JAN 5.38M 5.56M ®
07:00 PM
US
FOMC Minutes
09:30 PM
US
API Crude Oil Stock Change 16/FEB -0.907M 3.947M
EA
ECB Non-Monetary Policy Meeting
Thursday February 22 2018 Actual Previous Consensus
01:15 AM
US
Fed Kashkari Speech
05:15 AM
US
Fed Quarles Speech
07:45 AM
FR
Business Confidence FEB 112 114 ®
08:15 AM
CH
Industrial Production YoY Q4 8.7% 9.2% ®
09:00 AM
DE
Ifo Business Climate FEB 115.4 117.6
09:00 AM
DE
Ifo Current Conditions FEB 126.3 127.8 ®
09:00 AM
DE
Ifo Expectations FEB 105.4 108.3 ®
09:30 AM
GB
GDP Growth Rate YoY 2nd Est Q4 1.4% 1.8% ®
09:30 AM
GB
GDP Growth Rate QoQ 2nd Est Q4 0.4% 0.5% ®
09:30 AM
GB
Business Investment QoQ Prel Q4 0% 0.9% ®
09:30 AM
GB
Business Investment YoY Prel Q4 2.1% 1.9% ®
11:30 AM
TR
Business Confidence FEB 110.8 108.3
11:30 AM
TR
Capacity Utilization FEB 77.8% 78.2%
12:30 PM
EA
ECB Monetary Policy Meeting Accounts
01:30 PM
CA
Retail Sales MoM DEC -0.8% 0.3% ®
03:00 PM
US
Fed Dudley Speech
04:00 PM
US
EIA Gasoline Stocks Change 16/FEB 0.261M 3.599M
04:00 PM
US
EIA Crude Oil Stocks Change 16/FEB -1.616M 1.841M
05:10 PM
US
Fed Bostic Speech
11:30 PM
JP
Core Inflation Rate YoY JAN 0.9% 0.9%
11:30 PM
JP
Inflation Rate MoM JAN 0.4% 0.2%
11:30 PM
JP
Inflation Rate YoY JAN 1.4% 1%
Friday February 23 2018 Actual Previous Consensus
07:00 AM
DE
GDP Growth Rate YoY Final Q4 2.9% 2.7%