This week the FOMC meeting will be keenly watched, alongside US jobs report, ISM Manufacturing PMI, pending home sales and the final Michigan consumer sentiment. Also: UK consumer morale, Markit Manufacturing PMI and monetary indicators; Eurozone Q4 GDP growth, inflation and business survey.
The Federal Reserve will hold its first policy meeting of 2019 at which policymakers are likely to keep monetary policy unchanged while stressing that they can be patient about further policy firming. Regarding the economic calendar, the highly anticipated jobs report is expected to show a payroll increase of 168 thousand in January, after employers added the most workers in 10 months in December; while annual wage growth is expected to remain at its strongest level since 2009.
In the UK lawmakers will vote Tuesday on Theresa May’s Brexit “Plan B” and on crucial amendments that could force the Government to delay Brexit and reduce the chance of a no-deal.
In Europe, preliminary estimates of Q4 GDP growth, alongside inflation rate, business survey and unemployment will be published for the Eurozone. Market consensus suggest the economy grew only 0.2 percent in the last quarter of 2018, matching the previous period’s four-year low amid persistent trade tensions and global economic slowdown.