The Week Ahead Sees All Three Major Central Banks In Action
1. Geopolitical Events. On Tuesday the FOMC begins a two day meeting. Also on Tuesday a joint ECB and European Commission meeting will meet and a Bank of Japan Rate decision is due. On Thursday the BOE will release its latest interest rate decision. On Friday EU Heads of State will meet. Federal Reserve Chicago President Charles Evans will speak on Friday to finish out the week.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications, jobless claims and personal income, Chicago PMI, consumer confidence, construction spending, ISM Manufacturing PMI, Q4 Productivity, nonfarm payrolls with the unemployment rate and factory orders.
3. Earnings Releases. Notable releases include EPD GGP AAPL XOM FB MO AMZN V HMC PSX.
Monday, January 30:
December Personal Income is due out at 8:30 a.m. EST and is expected to rise to 0.4% from 0%.
Markets are closed in China for the Lunar New Year. South Korea, Taiwan and several other Asian countries are closed for trading as well. China is closed until Friday.
Tuesday, January 31:
The Bank of Japan rate decision is due.
The S&P/Case Schiller Home Price Index for November is due out at 9:00 a.m. EST and is expected to drop to 5.0% from 5.1%.
January Chicago PMI is due out at 9:45 a.m. EST and is expected to rise to 55.5 million from 54.6.
January Consumer Confidence is due out at 10:00 a.m. EST and is expected to fall to 113 from 113.70.
The European Central Bank (ECB) and European Commission will hold a joint meeting in Frankfurt.
The Federal Reserve Open Market Committee (FOMC) begins its two day meeting that concludes on Wednesday with an interest rate announcement.
Wednesday, February 1:
ADP Payroll for January is due out at 8:15 a.m. EST and is expected to rise to 165,000 from 153,000.
December Construction Spending is due out at 10:00 a.m. EST and is expected to fall to 0.30% from 0.91%.
January ISM Manufacturing PMI is due out at 10:00 a.m. EST and is expected to rise to 55 from 54.70.
The first Federal Reserve Open Market Committee (FOMC) interest rate decision of 2017 is due out at 2:00 p.m. EST.
Monthly Truck and Car Sales are due out at 2:00 p.m. EST. The only short squeeze of note in this space is Tesla Motors (TSLA).
Thursday, February 2:
Challenger, Gray & Christmas Monthly Job Cuts are due out at 7:30 a.m. EST; last month they rose 42.2%.
The Bank of England (BOE) is out with its latest interest rate decision before markets open.
Q4 Productivity is due out at 8:30 a.m. EST and is expected to fall to 0.9% from 3.1%
Friday, February 3:
January Nonfarm Payrolls are due out at 8:30 a.m. EST and are expected to improve to 175,000 from 156,000. The unemployment rate is expected to remain at 4.7%.
December Factory Orders are due out at 10:00 a.m. EST and are expected to rise to 1.4% from -2.4%.
European Union Heads of State meet.