Asia, Europe, U.S. – What Will Be Important This Week

Asia

In China, the Chinese New Year is celebrated this week, which is why holidays are scheduled for the whole week. Nevertheless, important economic figures were announced yesterday. Manufacturer PMI for January fell to 50.1 from 50.3 in the month before. Non-manufacturer PMI fell to 51.1. Caixin manufacturer PMI fell below the important mark of 50 to 49.1.

Other major economies in Asia have holidays this week as well.
South Korea New Year holiday until Wednesday.
Singapore Chinese New Year holiday until Wednesday.

Europe

On Tuesday, Germany will publish the manufacturer PMI for the month of January. The previous month’s manufacturing PMI was 60.5. Furthermore, there will be unemployment figures for the month of January.
The U.K. will also release the January manufacturing PMI on Tuesday.

On Wednesday, the EU will release the CPI figures for the Eurozone for the month of January.

On Thursday, the U.K. will announce the composite PMI for January. In addition, the Bank of England will announce its interest rate decision. It is expected that the BOE will raise interest rates by another 0.25% to 0.5%. The BOE will then publish an inflation report.
Likewise, the ECB will announce its interest rate decision on Thursday. Experts assume that the current interest rate policy will be maintained at 0.00%. Afterward, the ECB will hold a press conference.

On Friday, the U.K. will then still show the construction PMI for January.

The U.S.

On Tuesday, the U.S. will release the ISM manufacturing PMI for January. Last month it was 58.7. In addition, the JOLTs job openings for the month of December will be published. Figures from the month before were 10.562M openings.

On Wednesday, figures from the ADP Nonfarm Employees Change for January and the last week’s EIA crude oil inventory changes will be released.

On Thursday, the figures for the initial jobless claims, which had risen again in the last two weeks, will be published. In addition, the ISM Non-Manufacturing PMI for January will be announced.

The week will then conclude on Friday with the unemployment rate and the non-farm payrolls for the month of January.

Business Results

Tuesday and Thursday will see a number of major earnings announcements, led by tech giants Amazon (NASDAQ:AMZN) and Google Alphabet (NASDAQ:GOOGL), among others.

Tech stocks have been under pressure so far as the Fed plans to tighten its policy to curb inflation. Since the beginning of the year, an outflow of capital from growth stocks into value stocks has been seen.

Other Important Data

On Tuesday, Australia will announce retail sales figures from the month of December. The Reserve Bank of Australia will announce its interest rate decision. Experts expect that not much will change here and the interest rate will remain at 0.1%.
In addition, Canada will announce the GDP figures for the month of November.

On Friday, Canada will then publish the Employment Change and Ivey PMI for January.

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