Weekly Market Analysis page 44

Key events: Eurozone - Eurogroup Meetings     The U.S. economy created 311,000 new non-farm jobs in the second month of 2023, according to data released on March 10 by the Labor Department. The figure was markedly higher than economists' consensus forecasts, which had suggested an increase of 225…

Key events:         UK – GDP (MoM) (Jan) UK – Manufacturing Production (MoM) (Jan) UK – Monthly GDP 3M/3M Change (Jan) USA – Nonfarm Payrolls (Feb)   USA – Unemployment Rate (Feb)   Canada – Employment Change (Feb)   Eurozone – ECB President Lagarde Speaks   Thursday might have been a quiet day…

Key events: USA - Initial Jobless Claims              Canada - BoC Senior Deputy Governor Rogers Speaks                      New Zealand - Business NZ PMI (Feb) The DAX index closed higher after Powell's first day of testimony before the Senate. The better-than-expected jump in January industrial…

Key events:                                                     Eurozone - ECB President Lagarde Speaks                      USA - ADP Nonfarm Employment Change (Feb) USA - Fed Chair Powell Testifies                      USA - JOLTs Job Openings (Jan)     Canada - BoC Interest Rate Decision USA -…

Key events:                                                     Australia - Retail Sales (MoM)     Australia - RBA Interest Rate Decision (Mar)     Australia - RBA Rate Statement  China - Exports (YoY) (Feb)         China - Imports (YoY) (Feb) China - Trade Balance (USD) (Feb)                    …

Key events:         UK – Construction PMI (Feb) Canada – Ivey PMI (Feb) Despite the Fed's best efforts, the labor market remains overheated as initial jobless claims fell by 2,000 (n/a) to 190,000 and U.S. service sector business activity remains elevated. In the context of fighting inflation,…

Key events:         UK – Composite PMI (Feb) UK – Services PMI (Feb) USA – ISM Non-Manufacturing PMI (Feb) The U.S. stock market ended February uncertain, leaving investors questioning whether the rally seen earlier this year will continue. After a strong January, the Dow Jones Industrial Average…

Key events:         Eurozone – CPI (YoY) (Feb)    Eurozone – ECB Publishes Account of Monetary Policy Meeting      USA – Initial Jobless Claims The economic data that came out in recent days gave us some nice surprises and investors are now trying to figure out what that means in terms of Fed…

Key events:         Australia – GDP (QoQ) (Q4) 0.5% UK – Manufacturing PMI (Feb)   UK – BoE Gov Bailey Speaks      USA – ISM Manufacturing PMI (Feb) USA – Crude Oil Inventories After a very favorable beginning of the year, with two consecutive months of gains, European markets performed…

Key events:         Australia – Retail Sales (MoM) (Jan)   Canada – GDP (MoM) (Dec)    Canada – CB Consumer Confidence (Feb) Monday saw some relief in the market after Friday's correction caused by the Core PCE. The reaction to the report can be called comprehensive, there was another significant…

Key events:         USA – Core Durable Goods Orders (MoM) (Jan) USA – Pending Home Sales (MoM) (Jan) U.S. stock indices tumbled Friday on reports of continued high inflation in the country. The Dow Jones Industrial Average fell 336.99 points (1.02%) to 32816.92 points. Microsoft Corp (NASDAQ:…

Key events:         USA – Core PCE Price Index (MoM) (Jan) USA – New Home Sales (Jan) The latest GDP data from the U.S. showed that the U.S. economy grew 2.7% in Q4, not 2.9% as analysts had anticipated. Softer economic growth might have helped ease inflation and softened the Fed's hand. That…