Economic Calendar for week starting 12 Feb 2024 - Happy Chinese New Year!
There are no public holidays in the USA for the coming week.
Hong Kong will be closed for the Chinese Lunar New Year (CNY) from 10 to 13 Feb 2024.
China will be closed for the Chinese Lunar New Year (CNY) from 9 to 15 Feb 2024.
Singapore will be closed for the Chinese Lunar New Year (CNY) from 10 to 12 Feb 2024.
Here is wishing all a blessed Chinese New Year.
Economic Calendar (12 Feb 2024)
The Chinese-speaking world should be closed as they celebrate the Chinese Lunar New Year. Celebrations start on 09 Feb 2024 for Chinese-speaking nations like China, Hong Kong & Singapore.
CPI. This should be the most watched macro data for the coming week. This is likely to move the market though the Core CPI is likely to be the same as the previous month. Though this is not the main reference for the Fed, this will remain a key reference for inflation and how the market anticipates the coming Fed pivot.
PPI. This shows the inflation that hits producers. The forecast is 0.1% and implies that inflation could be persistent. This is the prelude to CPI that reaches the consumers. Thus, if PPI ticks higher as per forecast, this could translate to more inflationary pressures in the coming weeks.
Philadelphia Fed Manufacturing Index will shed light on the manufacturing performance.
Retail Sales and Core Retail Sales data will be released. This reveals the sentiment of consumers and spending in the market.
Initial Jobless Claims - This reflects the impact of unemployment, a data point for the Fed’s interest rate decision. The unemployment rate will also reveal the job and jobless situation in the USA.
Crude Oil Inventories can be seen as forward indicators of market demand and consumption. If the trend of excess inventories continues, demand erosion can lead to reduced production & weakening consumer spending.
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