Weekly Review 03 02 19

At the week ahead the US will be publishing its highly anticipated foreign

trade report, after it had been delayed for almost a month due to the partial

government shutdown, with market forecasts pointing to a narrowing trade

deficit in November. Meanwhile, the ISM Non-Manufacturing PMI is likely to

decline in January to a six-month low; and factory orders are expected to

post a slight recovery in November after October’s biggest decline since July

2017. Elsewhere, interest rate decisions from the Bank of England and

Germany industrial production will also be in the spotlight.

Important figures for the US are: consumer credit, Q4 labor productivity,

IBD/TIPP Economic Optimism, and final Markit Services PMI will also be

keenly watched.

In the UK, the Bank of England will meet to set monetary policy, with markets

anticipating no changes in borrowing costs as Brexit uncertainties remain

and as Prime Minister, Theresa May heads to Brussels to win concessions

from the EU on the Brexit withdrawal agreement.

In Europe, investors await the Eurozone producer inflation, retail trade data

and final Market Services PMI; Germany industrial output, factory orders, and

trade balance.