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Week commencing 24 March
Chris Beauchamp insight
Flash PMIs, plus UK CPI and the German IFO index dominate the week, though the US PCE reading on Friday will likely command the most attention. Earnings focus on Tullow Oil and Kingfisher in the UK, and Gamestop in the US, though markets are now firmly into the lull between the US reporting seasons.
Economic reports
- Monday
- Tuesday
- Wednesday
- Thursday
- Friday
- Weekly view
12.30am (London time) – Japan PMI (March, flash): services PMI expected to fall to 52 from 53.7, manufacturing to rise to 49.4 from 49. Markets to watch: JPY crosses
8.30am (London time) – Germany PMI (March, flash): manufacturing PMI expected to fall to 46 from 46.5. Markets to watch: EUR crosses
9.30am (London time) – UK PMI (March, flash): services PMI expected to rise to 51.5 from 51, and manufacturing to rise to 47.9 from 46.9. Markets to watch: GBP crosses
12.30pm (London time) – US Chicago Fed nat'l activity index (February): index expected to rise to 0.08 from -0.03. Markets to watch: USD crosses
1.45pm (London time) – US PMI (March, flash): services PMI forecast to fall to 49.5 from 51, and manufacturing expected to fall to 51 from 52.7. Markets to watch: US indices, USD crosses
9am (London time) – German IFO index (March): business climate reading forecast to rise to 87.9 from 85.9. Markets to watch: EUR crosses
2pm (London time) – US CB consumer confidence (March), new home sales (February): consumer confidence index expected to fall to 97.4 from 98.3, while new home sales expected to rise 0.5% MoM. Markets to watch: USD crosses
7am (London time) – UK CPI (February): inflation forecast to slow to 2.7% YoY from 3%, but accelerate to 0.3% MoM from -0.1%. Core CPI expected to slow to 3.5% from 3.7% YoY. Markets to watch: GBP crosses
12.30pm (London time) – US durable goods orders (February): January saw orders rise 3.1%. Markets to watch: USD crosses
2.30pm (London time) – US EIA crude oil inventories (w/e 21 March): previous week saw a rise of 1.75 million barrels. Markets to watch: Brent, WTI
12.30pm (London time) – US initial jobless claims (w/e 22 March), GDP (Q4, final): claims expected to rise to 225K from 223K, GDP forecast to be 2.3% YoY. Markets to watch: US indices, USD crosses
7am (London time) – UK retail sales (February): sales rose 1.7% in January. Markets to watch: GBP crosses
12.30pm (London time) – US PCE price index (February): prices expected to have risen 0.5% MoM from 0.3%. Core PCE forecast to be 0.4% MoM from 0.3%. Markets to watch: USD crosses
Monday
12.30am (London time) – Japan PMI (March, flash): services PMI expected to fall to 52 from 53.7, manufacturing to rise to 49.4 from 49. Markets to watch: JPY crosses
8.30am (London time) – Germany PMI (March, flash): manufacturing PMI expected to fall to 46 from 46.5. Markets to watch: EUR crosses
9.30am (London time) – UK PMI (March, flash): services PMI expected to rise to 51.5 from 51, and manufacturing to rise to 47.9 from 46.9. Markets to watch: GBP crosses
12.30pm (London time) – US Chicago Fed nat'l activity index (February): index expected to rise to 0.08 from -0.03. Markets to watch: USD crosses
1.45pm (London time) – US PMI (March, flash): services PMI forecast to fall to 49.5 from 51, and manufacturing expected to fall to 51 from 52.7. Markets to watch: US indices, USD crosses
Tuesday
9am (London time) – German IFO index (March): business climate reading forecast to rise to 87.9 from 85.9. Markets to watch: EUR crosses
2pm (London time) – US CB consumer confidence (March), new home sales (February): consumer confidence index expected to fall to 97.4 from 98.3, while new home sales expected to rise 0.5% MoM. Markets to watch: USD crosses
Wednesday
7am (London time) – UK CPI (February): inflation forecast to slow to 2.7% YoY from 3%, but accelerate to 0.3% MoM from -0.1%. Core CPI expected to slow to 3.5% from 3.7% YoY. Markets to watch: GBP crosses
12.30pm (London time) – US durable goods orders (February): January saw orders rise 3.1%. Markets to watch: USD crosses
2.30pm (London time) – US EIA crude oil inventories (w/e 21 March): previous week saw a rise of 1.75 million barrels. Markets to watch: Brent, WTI
Thursday
12.30pm (London time) – US initial jobless claims (w/e 22 March), GDP (Q4, final): claims expected to rise to 225K from 223K, GDP forecast to be 2.3% YoY. Markets to watch: US indices, USD crosses
Friday
7am (London time) – UK retail sales (February): sales rose 1.7% in January. Markets to watch: GBP crosses
12.30pm (London time) – US PCE price index (February): prices expected to have risen 0.5% MoM from 0.3%. Core PCE forecast to be 0.4% MoM from 0.3%. Markets to watch: USD crosses
Company announcements
|
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
Full-year earnings |
Tullow Oil Kingfisher Travis Perkins |
Vistry | Next Enquest |
||
Half/ Quarterly earnings |
Bellway Gamestop |
Dollar Tree | |||
Trading update* |
Pennon | Ocado | SSE |
Dividends
FTSE 100: British American Tobacco, SEGRO, Standard Chartered, Smith & Nephew, Taylor Wimpey, Melrose, Schroders, M&G, Prudential, Games Workshop
FTSE 250: Crest Nicholson, Aberdeen, Primary Health Properties, OSB Group, Empiric Student Property, Volution
Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.
Index adjustments
|
MONDAY 24-Mar |
TUESDAY 25-Mar |
WEDNESDAY 26-Mar |
THURSDAY 27-Mar |
FRIDAY 28-Mar |
MONDAY 31-Mar |
| FTSE 100 | 12.67 | |||||
| Australia 200 | 0.7 | 0.1 | 0.4 | 0.4 | ||
| Wall Street | ||||||
| US 500 | 0.23 | 0.02 | 0.18 | 0.59 | 0.15 | |
| Nasdaq | 0.42 | 1.01 | ||||
| Netherlands 25 | 0.15 | |||||
| EU Stocks 50 | 2.6 | |||||
| China H-Shares | ||||||
| Singapore Blue Chip | ||||||
| Hong Kong HS50 | ||||||
| South Africa 40 | 138.9 | |||||
| Japan 225 | 307.1 |
* Please note these can change without notice
1 Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day
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