Using Trading Central's "Economic Insight" investors can check out up-coming major economic data.
We are looking into the trading week of February 5 - 9:
We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:
We can select which economies to focus on:
China’s government will report January inflation data on Thursday (February 8). According to Trading Central's "Economic Insight", the country should continue to see deflation as consumer prices may fall 0.4% on year.
Deflation, with prices of goods and services declining, is usually translated into an economic slowdown. In fact, the International Monetary Fund (IMF) said China’s economic growth could ease to 4.6% in 2024 (5.2% in 2023), citing a real estate slump and weaker demand for its exports.
In case of persistent deflation and a further economic slowdown, we could expect the government to launch extra fiscal and monetary measures to stimulate the economy.
In the past 12 China Inflation Reports, USD/CNH rose in 50% of times (6 out of 12 events) within one hour from the report’s release, marking a trading range of 102.11 pips on average.
Forecasts of Key Economic Data:
Monday (February 5)
AU Trade Surplus (DEC) expected at A$7.9 billion
CN Caixin Services PMI (JAN) to be unchanged at 52.9
US ISM Services PMI (JAN) expected to rise to 51.7
DE Balance of Trade (DEC) expected at €17B
EA PPI MoM (DEC) expected to be down to −0.5% MoM
Tuesday (February 6)
AU RBA Benchmark Rate unchanged at 4.35%
JP Household Spending (DEC) -2.5% YoY
DE Factory Orders (DEC) -0.1% MoM
EA Retail Sales (DEC) -1.0% MoM
CA Building Permits (DEC) +2.5% MoM
CA Ivey PMI s.a (JAN) may dip to 55.8
Wednesday (February 7)
New Zealand Unemployment Rate (4Q) to edge up to 4.0%
DE Industrial Production (DEC) -0.3% MoM
GB Halifax House Price Index (JAN) +0.2% MoM
CA Trade Surplus (DEC) may widen to C$1.80 billion
US Trade Deficit (DEC) expected at $63.0 billion
Thursday (February 8)
CN Inflation Rate (JAN) expected at -0.4% YoY
CN PPI (JAN) to narrow to -2.1% on year
GB RICS House Price Balance (JAN) may edge up to −29%
US Initial Jobless may tick up to 227,000
Friday (February 9)
CN Stock Market closed Feb 9 - 16 for the Spring Festival
CA Full-Time Employment Change (JAN) expected at +30,000
CA Unemployment Rate (JAN) may stay at 5.8%
Happy Trading!
Source: Trading Central Economic Insight
