On Monday 13th: The Australian Westpac Consumer Sentiment Index and Japanese GDP data is due.
On Tuesday 14th: The Australian NAB Business Confidence Index is released, along with the UK’s Employment data, the Eurozone’s GDP stats and US Inflation figures.
On Wednesday 15th: UK CPI figures, US Retail Sales info, the NY Empire State Manufacturing Index and the Japanese Balance of Trade are all published.
On Thursday 16th: Australian employment figures, the US PPI, Building Permits and Philadelphia Fed Manufacturing Index are all due.
On Friday 17th: UK Retail Sales and French CPI data are due.
Weekly outlook
A slew of economic data is to be released this coming week, with some much anticipated CPI stats, Employment figures and Business Confidence indexes out from across a variety of major economies. With many of the world's biggest Central Banks having handed down additional interest rate increases earlier this month, the results will be closely watched to see if these tightening measures are hitting their mark to slow inflation.
There’s also still plenty of big names reporting their fourth quarter earnings, one of the biggest being Coca-cola. On the 14th of February, it’s hoped that a continuation of the strong growth from the third quarter, which saw EPS grow 14% to $0.65c, will continue and lead to solid full year results. Consensus estimates so far put the EPS at $0.45, which is the same as the fourth quarter last year.
Monday 13th of February
The Australian Westpac Consumer Confidence Index for February is due at 11:30 PM GMT today. Last month, and for the second report in a row, the Westpac-Melbourne Institute Index rose, this time by 5% to 84.3, the greatest monthly rise since April 2021. Since then, even though there's been yet another interest rate hike, the index is forecast for another slight increase to 85.3.
From Japan at 11:50 PM GMT, we can expect to read about the country's GDP results for the fourth quarter and full year 2022. Improvement on the previous quarter is expected so far, with .05% growth for the fourth quarter compared to the previous -0.2%, and 2% annualized growth.
Important meeting of the day: Eurogroup meeting
Major Earnings Reports due:
- Michelin
Tuesday 14th of February
Again from Australia, released at 12:30 AM GMT, the NAB Business Confidence Index for January, which assesses business conditions from the results of around 350 surveys is due. After rising 3 points to -1 last month, the expectation is for a further 2 point rise to more optimistic territory at 1.
The UK will post its various employment figures at around 7:00 AM GMT today. The Claimant Count change has shown an increase in the number of people receiving unemployment benefits in the last two months. January’s report is expected to be heading in a similar direction while businesses struggle with rising costs. In keeping with the same trend, the Unemployment rate is forecast to have increased to 3.8% from 3.7%.
The Eurozone reports its fourth quarter and full year GDP data from 10:00 AM GMT today. It is expected to show growth of 0.1% for the fourth quarter compared to the previous, and 1.9% growth for the full year.
Highly anticipated CPI results from the US due at 1:30 PM GMT are expected to show that inflation is continuing to cool on the back of the Federal Reserve's strict monetary tightening regime. Annualized Inflation is forecast to have dropped to 6.3% from 6.5%, while Core Inflation is also set to have fallen from 5.7% to 5.4%.
Important meeting of the day: ECOFIN meeting
Major Earnings Reports due:
- Coca-cola
- Airbnb
Wednesday 15th of February
CPI figures for the UK are due at 7:00 AM GMT, with expectations for improved inflation figures this past January. After peaking at 11.1% in October last year, inflation fell for a second month to 10.5% in December from 10.7% in November. It's hoped that a drop from 10.5% to 10.3% will be on the cards this month.
Retail Sales data from the US is due at 1:30 PM GMT and is forecast to show a slight improvement on the previous month’s 1.1% decline with a 0.9% increase.
After sinking to -32.9 in January, the US Empire State Manufacturing Index is set to increase to -19 in February when the report is released at 1:30 PM GMT. Although an improvement, any level below zero is indicative of worsening business conditions.
The Japanese Balance of Trade is expected to continue showing a growing gap for the 18th month straight, as concerns mount over the state of the Covid pandemic recovery. Forecasts are for a widening deficit from -1448.5B to --3871.5B.
Major Earnings Reports due:
- Cisco Systems
- Shopify
- Kering
- Heineken
- Kraft Heinz
- Commonwealth Bank of Australia
Thursday 16th of February
Australian employment stats are due to be reported for January at 12:30 AM GMT today. Despite one of the fastest paced hikes in interest rates over the last 12 months, the employment numbers remain strong. Expectations are for an increase of 15,000 employed persons compared to the previous month's 14,600 decline. The Unemployment rate is also set to remain at 3.5%.
A number of reports are due out from the US at 1:30 PM GMT, including the Producer Price Index, which is expected to show 0.4% growth for January compared to the previous month's drop of 0.5%. Building Permits for January are also forecast to show some growth from 1.337M to 1.374M, and the Philadelphia Fed Manufacturing Index is expected to show a sixth consecutive negative reading of -7 for February, slightly up from last month’s -8.9.
Major Earnings Reports due:
- Applied Materials
- Airbus
- Nestle
- Air Liquide
- Pernod Ricard
- Renault
- National Australia Bank
Friday 17th of February
The UK is due to report its monthly retail sales for January at 7:00 AM GMT. Sales declined in December by 1% and expectations are for a similar fall of a further 1.8% this month as consumers pull back on their spending habits in the wake of rising costs and higher interest rates.
French CPI data is expected to reveal a slight rise from 5.9% to 6% in annualized figures for January in the final report released at 7:45 AM GMT. Continually rising energy and food prices are said to be at the core of the increase.
Major Earnings Reports due:
- Hermes International
- Allianz
- Daimler
- Mercedes Benz
- Safran
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