Need to know
The main events of the upcoming trading week are probably connected to 2 speeches of US President Trump and Fed chair Janet Yellen. Trump is expected to speak about health care reform and Yellen about the US economic outlook. There is also an interest rate decision in Canada.
US and Australia Preliminary GDP q/q is due on Tuesday and Wednesday, 28 February and 1 March.
This figure measures the GDP change in the value of the inflation-adjusted goods and services. Simply said, it measures the value of the entire US and Australian economy.
Why should you care? The preliminary release is the earliest available GDP data and, therefore, tends to have the most impact. The forecasted figure for the US is 2.1%, whereas Australia expects 0.7%.(*)
US President Trump is speaking on Wednesday, 1 March (GMT time).
US President Trump is speaking about healthcare reform and other topics before Congress in Washington DC.
Why should you care? The US President could impact the movement on the US Dollar as he sets out long-term policy decisions.
Great British and US PMI are released on Wednesday, 1 March.
The PMI (Purchasing Manufacturing Index) is a survey that measures the business conditions of purchasing managers in various areas such as employment, new orders, inventories and more. Both Great Britain and the US will see updated PMI figures on this day.
Why should you care? For Great Britain, the previous figure was 55.9 and the forecast is 55.5. Meanwhile, for the US, the previous figure was 56 and the forecast is 56.3.(*) Anything above 50.0 indicates industry expansion.
Canada communicates interest rate decision and statement on Wednesday, 1 March.
The Bank of Canada (BOC) releases the decision on the interest rate policy of Canada. The BOC also provides a policy statement which reviews and discusses the economic outlook.
Why should you care? The previous figure for the Canadian interest rate was 0.5%, and the current forecast is 0.5%.(*)
Source: Interest rate development of Canada over the past 6 years.
Fed Chair Janet Yellen is speaking on Friday, 3 March.
Fed chair Janet Yellen is expected to testify before the Senate Banking Committee in Washington DC.
Why should you care? Fed chair Yellen is expected to discuss the Semiannual Monetary Policy Report.