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07 Mar 2021
3 min read

A Look Ahead into the Week

A Look Ahead into the Week

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • Light calendar in the days ahead
  • US CPI data to unveil pace of inflation rate

The week starting Monday, March 8, brings a relatively light economic calendar. To kick off the week, Japan will present its GDP numbers for the fourth quarter of 2020. The report is set for 06:50 pm EST on Monday.

Since there isn’t anything substantial on the radar on Tuesday, we move to Wednesday when the US reports its latest Core CPI data for February. The event, set for 08:30 am EST, will be monitored by investors to find out if the inflation rate is picking up. Later, at 10:00 am EST, the Bank of Canada will release its interest rate decision. The interest rate is expected to remain unchanged at 0.25%.

Interest Rate Decisions on the Horizon

Thursday brings European developments into focus. The European Central Bank will announce its interest rate decision at 07:45 am EST. The announcement will be followed by a press conference led by ECB President Christine Lagarde. Investors will be on the lookout for insights on the pace of recovery and the economic outlook of the bloc. The ECB press conference is scheduled for 08:30 am EST. At the same time, the US reports its latest initial jobless claims.

On Friday, the UK will report its latest manufacturing production figures for January at 02:00 am EST. The US will follow at 08:30 am EST with its PPI data for February. Also at 08:30 am EST, Canada will publish the employment change report for February. In the previous month, the Canadian economy lost 212,800 jobs, the largest decline since the onset of the pandemic.

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