16 Feb 2015
Key events in the week ahead – TDS
FXStreet (Barcelona) - The TD Securities Team previews the key events and data to be released in the week ahead, noting that the week will see the release of Minutes from a number of G10 central banks.
Key Quotes
“The RBA kick us off tonight where we look for any clues of consecutive cuts while the UK’s MPC Minutes on Wednesday shouldn't be too market moving after last week’s Inflation Report.”
“The FOMC Minutes, also on Wednesday, are likely to be closely scrutinized for the context to which the upgrade of economic activity from “moderate” to “solid” and the removal of the “considerable time” language.”
“The ECB will release Minutes on Thursday for the first time (although it refers to them as “accounts” rather than “minutes”) and with an 18-month programme already put in place, there is unlikely to be anything hugely market moving but as it is the first release, the market will pay attention due to the novelty factor.”
“On the data front, the highlight in Europe will be the release of the flash PMIs on Friday where we look for the German manufacturing PMI to fall to 50.6 (consensus: 51.4) while we are in line with consensus for the French services PMI.”
“It is also a big week for the UK, where we look for CPI to disappoint consensus by 0.2ppt tomorrow coming as we look for a 0.2% Y/Y print while employment data on Wednesday and retail sales on Friday will also be closely watched.”
“In the US, the highlight will likely be IP, where we look for a better than consensus 0.5% M/M print (consensus: 0.3%).“
Key Quotes
“The RBA kick us off tonight where we look for any clues of consecutive cuts while the UK’s MPC Minutes on Wednesday shouldn't be too market moving after last week’s Inflation Report.”
“The FOMC Minutes, also on Wednesday, are likely to be closely scrutinized for the context to which the upgrade of economic activity from “moderate” to “solid” and the removal of the “considerable time” language.”
“The ECB will release Minutes on Thursday for the first time (although it refers to them as “accounts” rather than “minutes”) and with an 18-month programme already put in place, there is unlikely to be anything hugely market moving but as it is the first release, the market will pay attention due to the novelty factor.”
“On the data front, the highlight in Europe will be the release of the flash PMIs on Friday where we look for the German manufacturing PMI to fall to 50.6 (consensus: 51.4) while we are in line with consensus for the French services PMI.”
“It is also a big week for the UK, where we look for CPI to disappoint consensus by 0.2ppt tomorrow coming as we look for a 0.2% Y/Y print while employment data on Wednesday and retail sales on Friday will also be closely watched.”
“In the US, the highlight will likely be IP, where we look for a better than consensus 0.5% M/M print (consensus: 0.3%).“