Look ahead: Germany trade; UK budget; eurozone retail sales; jobs; L&G
A flurry of economic data from Germany, Australia, the eurozone, a speech by Powell, and a UK budget will give investors further clues as to how those respective economies are faring as spring beckons.
Look out for JOLTS and ADP data ahead of Friday’s NFP. Plus, Legal & General and Tullow Oil reports.
(AI Video Summary)
Economic data from Germany, Australia and the eurozone
In Australia, there will be a focus on the latest economic growth rate, which is expected to be around 0.3% for the last three months of the year. This means that the country's economy grew slightly during this time.
Looking at Europe, Germany's trade balance will also be in the spotlight. It is anticipated to have a surplus of 21.5 billion euros, which means that the country exported more goods than it imported. Additionally, exports are expected to rise by 1.5% from the previous month. It will be interesting to see how much Germany has been selling to China, especially considering that recent data from China has been disappointing.
Moving on to the Eurozone, retail sales data will be closely monitored. After a recent survey showed that British consumers have been spending less due to bad weather and cautious households, it will be interesting to see if this trend has affected Europe as well.
UK budget and company financial results
Meanwhile, over in the UK, there are a couple of things to watch out for. Firstly, the S&P Global Construction PMI will give us an idea of how well the construction industry is doing. This will affect the value of the British pound, as it could potentially impact its current performance.
Additionally, the spring budget announcement will also be important. This budget will outline the government's spending plans for the year, which may also have an impact on the pound. In general, currency markets are quiet right now as everyone is waiting for the budget announcement and the US jobs report later in the week.
Several UK companies such as Legal & General, Tullow Oil, and Rathbone will be releasing their annual financial results. This will give us an insight into how well these companies have been doing over the past year.
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