Week Ahead


Next week the most important events will be the Fed and Bank of England monetary policy decisions. Key economic data include: US durable goods orders; existing and new home sales; UK inflation, retail trade, unemployment rate, wages data and CBI factory orders; Eurozone consumer sentiment; Japan inflation; Australia employment figures; and flash PMIs for the US, the Eurozone and Japan.

In the US, investors will turn their attention to next week's FOMC meeting at which the Federal Reserve is expected to raise interest rates. Regarding the economic calendar, the most important releases will be: durable goods orders; existing and new home sales; flash Markit PMIs; current account; Kansas Fed Manufacturing Index; and FHFA house prices.

In the UK, the Bank of England will also be deciding on monetary policy, with markets anticipating no changes. The country's inflation, retail trade, unemployment rate, wages data, CBI factory orders and public sector net borrowing will also be watched. 

Elsewhere in Europe, important releases include flash Markit PMIs for the Eurozone, Germany and France. Markets will also focus on: the Eurozone consumer sentiment and foreign trade; Germany business and investor morale; France business confidence; and Italy industrial output and trade balance.

Japan will release February's inflation rate and trade balance and flash Nikkei Manufacturing PMI, while China is set to publish house price data. In Australia, analysts are eyeing the publication of unemployment rate and employment change, alongside house price index.

Other important releases include: Canada inflation and retail sales; and New Zealand, Taiwan, Indonesia, the Philippines, Brazil and Russia interest rate decisions.



Joana Ferreira | joana.ferreira@tradingeconomics.com
3/17/2018 11:18:32 AM



 


Friday March 16 2018 Actual Previous Consensus
09:00 AM
IT
Inflation Rate MoM Final FEB 0.0% 0.3%
09:00 AM
PL
Employment Growth YoY FEB 3.7% 3.8%
10:00 AM
EA
Core Inflation Rate YoY Final FEB 1% 1%
10:00 AM
EA
Inflation Rate YoY Final FEB 1.1% 1.3%
10:00 AM
EA
Inflation Rate MoM FEB 0.2% -0.9%
12:30 PM
CA
Manufacturing Sales MoM JAN -1% -0.1% ®
12:30 PM
US
Building Permits MoM FEB -5.7% 5.9%
12:30 PM
US
Building Permits FEB 1.298M 1.377M
12:30 PM
US
Housing Starts MoM FEB -7% 10.1% ®
12:30 PM
US
Housing Starts FEB 1.236M 1.329M ®
01:15 PM
US
Industrial Production YoY FEB 4.4% 3.5% ®
01:15 PM
US
Industrial Production MoM FEB 1.1% -0.3% ®
02:00 PM
US
JOLTs Job Openings JAN 6.312M 5.667M ®
02:00 PM
US
Michigan Consumer Sentiment Prel MAR 102 99.7
Sunday March 18 2018 Actual Previous Consensus
11:50 PM
JP
Exports YoY FEB 1.8% 12.3% ®
11:50 PM
JP
Balance of Trade FEB ¥3B ¥-944B ®
RU
Presidential Election
Monday March 19 2018 Actual Previous Consensus
01:30 AM
CN
House Price Index YoY FEB 5.2% 5%
09:00 AM
IT
Industrial Production MoM JAN -1.9% 2.1% ®
10:00 AM
EA
Balance of Trade JAN €3.3B €25.4B
10:00 AM
EA
Construction Output YoY JAN 3.7% 1.4% ®
10:00 AM
IT
Balance of Trade JAN €-0.087B €5.249B ®
11:00 AM
DE
Bundesbank Monthly Report
12:00 PM
IN
Current Account Q4 $-13.5B $-7.2B
01:00 PM
US
Fed Bostic Speech
AR
G20 Fin Ministers and CB Governors Meeting
Tuesday March 20 2018 Actual Previous Consensus
12:30 AM
AU
House Price Index QoQ Q4 1% -0.2%
04:15 AM
AU
RBA Bullock Speech
06:45 AM
CH
SECO Economic Forecasts
07:00 AM
DE
PPI MoM FEB -0.1% 0.5%
07:00 AM
CH
Balance of Trade FEB CHF3.2B CHF1.1B ®
07:00 AM
TR
Consumer Confidence MAR 71.3 72.25 ®
08:00 AM
ZA
Inflation Rate YoY FEB 4% 4.4%
09:30 AM
GB
PPI Input YoY FEB 3.4% 4.5% ®
09:30 AM
GB
Inflation Rate YoY FEB 2.7% 3%
09:30 AM
GB
Core Inflation Rate YoY FEB 2.4% 2.7%
09:30 AM
GB
Inflation Rate MoM FEB 0.4% -0.5%
10:00 AM
EA
ZEW Economic Sentiment Index MAR 13.4 29.3
10:00 AM
DE
ZEW Current Conditions MAR 90.7 92.3
10:00 AM
DE
ZEW Economic Sentiment Index MAR 5.1 17.8
03:00 PM
EA
Consumer Confidence Flash MAR 0.1 0.1
08:30 PM
US
API Crude Oil Stock Change 16/MAR -2.739M 1.156M
AR
G20 Fin Ministers and CB Governors Meeting
Wednesday March 21 2018 Actual Previous Consensus
04:00 AM
MY
Inflation Rate YoY FEB 1.4% 2.7%
04:00 AM
TH
Balance of Trade FEB $0.81B $-0.12B
05:30 AM
NL
Consumer Confidence MAR 24 23
09:15 AM
ES
Balance of Trade JAN €-3.94B €-2.05B
09:30 AM
GB
Unemployment Rate JAN 4.3% 4.4%
09:30 AM
GB
Claimant Count Change FEB 9.2K -1.6K ®
09:30 AM
GB
Average Earnings incl. Bonus JAN 2.8% 2.7% ®
09:30 AM
GB
Employment Change DEC 168K 88K
11:00 AM
GB
CBI Industrial Trends Orders MAR 4 10
12:30 PM
US
Current Account Q4 $-128.2B $-101.5B ®
01:00 PM
RU
Unemployment Rate FEB 5% 5.2%
01:30 PM
BR
Business Confidence MAR 59.0 58.8
02:00 PM
CH
SNB Quarterly Bulletin
02:00 PM
US
Existing Home Sales MoM FEB 3% -3.2%
02:00 PM
US
Existing Home Sales FEB 5.54M 5.38M
02:30 PM
US
EIA Gasoline Stocks Change 16/MAR -1.693M -6.271M
02:30 PM
US
EIA Crude Oil Stocks Change 16/MAR -2.622M 5.022M
06:00 PM
US
Fed Interest Rate Decision 1.75% 1.5%
06:00 PM
US
FOMC Economic Projections
06:30 PM
US
Fed Press Conference
07:00 PM
AR
GDP Growth Rate YoY Q4 3.9% 3.8% ®
09:00 PM
BR
Interest Rate Decision 6.50% 6.75%
NL
Local Elections
EA
ECB Non-Monetary Policy Meeting
Thursday March 22 2018 Actual Previous Consensus
12:30 AM
AU
Employment Change FEB 17.5K 12.5K ®
12:30 AM
AU
Unemployment Rate FEB 5.6% 5.5%
12:30 AM
AU
Full Time Employment Chg FEB 64.9K -53.2K ®
12:30 AM
JP
Nikkei Manufacturing PMI Flash MAR 53.2 54.1
04:30 AM
JP
All Industry Activity Index MoM JAN -1.8% 0.5%
06:25 AM
CH
SNB Annual Report
07:45 AM
FR
Business Confidence MAR 111 112
08:00 AM
FR
Markit Manufacturing PMI Flash MAR 53.6 55.9
08:00 AM
FR
Markit Services PMI Flash MAR 56.8 57.4
08:05 AM
PH
Interest Rate Decision 3% 3%
08:30 AM
DE
Markit Manufacturing PMI Flash MAR 58.4 60.6
08:30 AM
DE
Markit Services PMI Flash MAR 54.2 55.3
09:00 AM
EA
Markit Services PMI Flash MAR 55.0 56.2
09:00 AM
EA
Markit Manufacturing PMI Flash MAR 56.6 58.6
09:00 AM
EA
ECB Economic Bulletin
09:00 AM
DE
Ifo Business Climate MAR 114.7 115.4
09:00 AM
DE
Ifo Expectations MAR 104.4 105.4
09:00 AM
DE
Ifo Current Conditions MAR 125.9 126.4 ®
09:30 AM
GB
Retail Sales ex Fuel MoM FEB 0.6% -0.2% ®
09:30 AM
GB
Retail Sales ex Fuel YoY FEB 1.1% 1.3% ®
09:30 AM
GB
Retail Sales MoM FEB 0.8% -0.2% ®
09:30 AM
GB
Retail Sales YoY FEB 1.5% 1.5% ®
09:50 AM
ID
Interest Rate Decision 4.25% 4.25%
11:30 AM
TR
Business Confidence MAR 111.9 110.8
11:30 AM
TR
Capacity Utilization MAR 77.8% 77.8%
12:00 PM
GB
BoE Interest Rate Decision 0.5% 0.5%
12:00 PM
GB
BoE Quantitative Easing £435B £435B
12:00 PM
GB
BoE MPC Vote Hike 2/9 0/9
12:00 PM
GB
BoE MPC Vote Unchanged 7/9 9/9
12:00 PM
GB
BoE MPC Vote Cut 0/9 0/9
01:45 PM
US
Markit Composite PMI Flash MAR 54.3 55.8
01:45 PM
US
Markit Manufacturing PMI Flash MAR 55.7 55.3
01:45 PM
US
Markit Services PMI Flash MAR 54.1 55.9
03:00 PM
US
Kansas Fed Manufacturing Index MAR 20 21
05:00 PM
GB
BoE Ramsden Speech
06:45 PM
CA
BoC Wilkins Speech
11:30 PM
JP
Inflation Rate YoY FEB 1.5% 1.4%
11:30 PM
JP
Core Inflation Rate YoY FEB 1% 0.9%
11:30 PM
JP
Inflation Rate MoM FEB 0.1% 0.4%
EA
ECB General Council Meeting
Friday March 23 2018 Actual Previous Consensus
10:30 AM
RU
Interest Rate Decision 7.25% 7.5%
12:00 PM
RU
Monetary Policy Report
12:00 PM
GB
BoE Quarterly Bulletin
12:10 PM
US
Fed Bostic Speech
12:30 PM
CA
Inflation Rate MoM FEB 0.6% 0.7%
12:30 PM
CA
Core Inflation Rate YoY FEB 1.5% 1.2%
12:30 PM
CA
Retail Sales MoM JAN 0.3% -0.7% ®
12:30 PM
CA
Inflation Rate YoY FEB 2.2% 1.7%
12:30 PM
GB
BoE Vlieghe Speech
12:30 PM
US
Durable Goods Orders Ex Transp MoM FEB 1.2% -0.2% ®
12:30 PM
US
Durable Goods Orders MoM FEB 3.1% -3.5% ®
02:00 PM
US
New Home Sales FEB 0.618M 0.622M ®
02:00 PM
US
New Home Sales MoM FEB -0.6% -4.7% ®
02:30 PM
US
Fed Kashkari Speech </