Wednesday preview: Plenty of macro data to crunch
(ShareCast News) - Looking forward to Wednesday, there are many data releases to keep macro watchers interested, while markets may well still be reacting to Donald Trumps much-trumpeted speech due later.
In the UK, the first release will be shop price data at midnight from Nielsen, before the official money and credit release at 0930 GMT.
Last month this showed a big drop off in consumer credit growth, with new loans coming in at their lowest level since May 2015.
February's data will show if this was a correction or a trend.
Manufacturing Purchasing Manager's Index survey from Markit is due at the same time, following the fall to 55.9 in January.
New orders, employment and export growth all saw a small decline last month.
The survey appears to show that the sector is still benefiting from the global cyclical upturn in recent months, HSBC said.
"However, with price growth reaching record levels and a fall in export order growth in January, we forecast a fall in the headline index to 55.1."
The consensus is for a more moderate decline 56.0.
US Personal income and spending is due at 1330 GMT, with the consensus pointing to flat income growth of 0.3% month-on-month but a slowdown in personal spending from 0.5% to 0.3%.
The ISM manufacturing index may be bigger news, having picked up at the end of 2016.
Said HSBC: "The rise in commodity prices over the past twelve months has helped promote a virtuous cycle of higher prices, increased new orders, and stronger production."
Early indications for February have been mixed, with the Empire State, Philadelphia Fed, and Kansas City Fed manufacturing prints all increased strongly, while the preliminary reading of the Markit manufacturing PMI falling.
The consensus is for a slight decline to 55.8 from 56.0 in January.
Wednesday 01 March
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
Crude Oil Inventories (US) (15:30)
ISM Prices Paid (US) (15:00)
MBA Mortgage Applications (US) (12:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
Unemployment Rate (GER) (09:00)
Admiral Group, Bank of Cyprus Holdings Public Limited Company, Costain Group, CRH, Livanova , Novae Group, Riverstone Energy Limited
Aberforth Smaller Companies Trust, Ediston Property Investment Company
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Consumer Credit (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)
Nationwide House Price Index (07:00)
INTERIM DIVIDEND PAYMENT DATE
Cohort, Coral Products
QUARTERLY PAYMENT DATE
QUARTERLY EX-DIVIDEND DATE
Bank of America Corp.