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Economic Calendar - Top 5 Things to Watch This Week

EconomyMar 14, 2021 06:49AM ET
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© Reuters.

By Jesse Cohen

Investing.com - The Federal Reserve’s highly anticipated monetary policy meeting will be the big deal for global financial markets in the week ahead.

While the U.S. central bank is not expected to take action on interest rates, investors will be watching closely for any commentary regarding the stunning selloff in Treasury markets, which saw the 10-year yield surge above 1.60% to the highest in a year on Friday.

Besides the Fed meeting, U.S. retail sales data will be in focus for further indications on the strength of the reopening rebound.

Meanwhile, in earnings, there are just a few big names set to report their latest financial results, with global economic bellwether FedEx (NYSE:FDX) and athletic apparel giant Nike (NYSE:NKE) likely to draw the most attention.

Elsewhere, monetary policy announcements from the Bank of England and the Bank of Japan will also be on the agenda.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. Federal Reserve Policy Meeting

The Federal Reserve is expected to leave its benchmark interest rate unchanged at the conclusion of its two-day policy meeting at 2:00PM ET (18:00 GMT) on Wednesday, keeping it in a range between 0.0%-0.25%.

Perhaps of greater importance, Fed Chair Jerome Powell will hold what will be a closely watched press conference 30 minutes after the release of the Fed's statement.

Investors will be looking for clear signs that Powell and fellow policymakers are concerned about the current spike in yields amid mounting inflation expectations.

The U.S. central bank will also release new forecasts for economic growth and interest rates, known as the "dot-plot".

A repricing of interest rate expectations to anticipate a Fed hike as early as late 2022 is at odds with the Fed's aim of keeping rates unchanged until the end of 2023.

2. U.S. Retail Sales

The Commerce Department will release data on retail sales for February on Tuesday at 8:30AM ET (12:30 GMT).

The consensus forecast is that the report will show retail sales fell 0.6% last month, following January’s surge of 5.3%.

Excluding the automobile sector, core retail sales are expected to drop 0.1%, after climbing 5.9% in the preceding month.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.

Consumer spending accounts for as much as 70% of U.S. economic growth.

In addition to retail sales, this week’s economic calendar also features the latest reports on initial jobless claims, industrial production, housing starts, as well as a pair of surveys on manufacturing conditions in the Philadelphia and New York regions.

3. FedEx, Nike Earnings

The fourth-quarter earnings season has all but wound down, however results are expected from a number of big names in the week ahead, with most of the focus falling on FedEx, and Nike, which both report Thursday after the close.

Other notable companies reporting this week include Dollar General (NYSE:DG), Crowdstrike (NASDAQ:CRWD), Coupa Software (NASDAQ:COUP), PagerDuty (NYSE:PD), and Sundial Growers (NASDAQ:SNDL).   

 

Read more: 3 Stocks To Watch In The Coming Week: Nike, FedEx, Tesla (NASDAQ:TSLA): Haris Anwar

4. Bank of England Policy Announcement

Across the pond, Governor Andrew Bailey and his fellow interest rate-setters are expected to keep borrowing costs on hold at 0.10% when the Bank of England makes its policy announcement at 8:00AM ET (12:00 GMT) on Thursday.

Economists expect a 9-0 vote by the MPC in favor of leaving rates steady.

Instead, any action such as upping the BoE's bond-buying firepower is likely to come later in the year - perhaps in May, when the next set of economic forecasts emerge.

5. Bank of Japan Policy Meeting 

The Bank of Japan, which pioneered yield curve control, is widely expected to keep monetary policy unchanged at its two-day rate review ending on Friday.

However, the central bank will likely insert clearer guidance in its statement on what it sees as an acceptable level of fluctuation in long-term interest rates, according to sources.

BoJ Governor Haruhiko Kuroda will hold a press conference afterward to discuss the decision.

Kuroda and his deputy Masayoshi Amamiya have sent mixed messages recently on loosening the 10-year yield target band.

-- Reuters contributed to this report

Economic Calendar - Top 5 Things to Watch This Week
 

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Comments (12)
Farman ail
Farman ail Mar 16, 2021 7:20AM ET
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Chaidezjbs Henderson
Chaidezjbs Henderson Mar 14, 2021 11:01PM ET
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all is going to explode and its going to affect the world closing the economic gap around the world
Terry Barker
Terry Barker Mar 14, 2021 8:40PM ET
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I hope Powell taked with Yellen about how to never say anything that might tank the market.
Hiral Patel
Hiral Patel Mar 14, 2021 3:43PM ET
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nonsense, Yellen said this is expected sign of a recovery. Stop the FUD around inflation, hedge funds just want a bloodbath to undermine retail investors.
Jay Rhyder
Jay Rhyder Mar 14, 2021 3:43PM ET
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maybe.... But can you trust what a politician says...? I know I can't.... Yellen is anti-crypto. She wants to "curtail" BTC, which is an ambiguous statement at best.... I think the bottom line here is you have to take the news with a grain of salt but don't trust a politician that's worse than a news report... I've never known a politician who tells the truth at least not unless it's in THEIR best interest. But I respect your comment. Everyone comes from a different perspective. -Best, Jay 👍
Joel Schwartz
Joel Schwartz Mar 14, 2021 3:43PM ET
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I mean, when I see the price of crude go up 1% a day for six months, I assume there is out of control inflation. Look how far $DRIP has fallen. 52-week lows every single week....
Milos Kocan
Milos Kocan Mar 14, 2021 2:23PM ET
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Fedex 🚀
Younes Ali
Younes Ali Mar 14, 2021 12:37PM ET
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Kaveh Sun
Kaveh Sun Mar 14, 2021 11:52AM ET
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I will look for any hint that Powell will increase bond buying. Yeilds went up because Biden is selling bonds for stimmy.
Fausto Chavez
Fausto Chavez Mar 14, 2021 11:52AM ET
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yields went up because they reache a bounce or potential bottom level. not because of extra borrowing. the republican government borrowed nearly 3 times as much for covid stimulus last year and yields didn't do jack.
Hiral Patel
Hiral Patel Mar 14, 2021 11:52AM ET
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can't be any worse then the useless GOP.
Joel Schwartz
Joel Schwartz Mar 14, 2021 11:52AM ET
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Hiral Patel you mean the GQP?
Hyborian War
HyborianWar Mar 14, 2021 11:38AM ET
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never bet against the USA🇺🇲 🥳🚀🚀
Hyborian War
HyborianWar Mar 14, 2021 11:37AM ET
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this market is going UP ... USA back to work!!! savings spending will be off the charts WITH the itch to move on!!
Kkjhg Ftam
Kkjhg Ftam Mar 14, 2021 11:33AM ET
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No chance there wasnt a rise in retail
Space Trader
SpaceTrader Mar 14, 2021 10:19AM ET
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Great another down week..
Rene Friebe
Rene Friebe Mar 14, 2021 10:19AM ET
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Why?
Rodrigo Tanoira
Rodrigo Tanoira Mar 14, 2021 7:49AM ET
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"Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy." Really???
Chad Ploof
Chad Ploof Mar 14, 2021 7:49AM ET
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Stimulas should help these numbers
steven camillieri
steven camillieri Mar 14, 2021 7:49AM ET
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I just took a big ploof in the toilet
Dave Jones
Dave Jones Mar 14, 2021 7:49AM ET
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steven camillieri The resulting chod is now a reporter for Reuters....
 
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