Just another Manic March

 

+  Investors will be looking toward a very busy week ahead including Non-Farm Payrolls, Unemployment Rate and a string of economic data while earnings season continues to wind down

+  The first week of the month is always filled with a ton of data from across the globe. In addition to the Unemployment Rate and Nonfarm Payrolls, domestically we will see ISM Index, Factory Orders, Personal Spending and Consumer Credit

+  On Thursday 3/5, ECB President Mario Draghi will speak and discuss the central banks bond buying program, which is due to begin this month. Traders will be listening for details of the program to determine if it will be enough to fend off deflation in Europe. Also expect to see FX plays off of the program details

+  Multiple FOMC members will be giving speeches across the country. Traders will continue to listen for any hints as to when the Fed may raise interest rates later this year

+  A number of PMI readings across the globe will be released over the week. If we see these readings come in lower than expected, this could be additional ammo for central banks to ease monetary policy. Additionally, traders will see if the recent stabilizing of oil prices have also leveled the PMI readings.

+  Central banks around the world are scheduled to make policy statements. Traders will be listening for any potential rate hikes or drops to further strengthen their nations’ economies. Moves in either direction have the potential to roil the markets 

+  We have been receiving weekly updates from energy companies announcing a decline in rigs. A spike in rig declines has helped to strengthen oil’s price. Traders will be listening to energy companies latest rig counts to see if the drop in oil continues to spur closures. If we see the decline slow down, expect the price of oil to also stabilize

+  Furthermore, leading into this week, equity markets across the globe have been hitting multi-year highs including European shares at seven-year highs and the Nasdaq hitting a fifteen year high. Traders will look to see if this bullish momentum can continue. 

 

MONDAY (3/2)

  • 10:00 AM ET – Personal Income - Jan
  • 10:00 AM ET – Personal Spending - Jan
  • 10:00 AM ET – Construction Spending – Jan
  • 10:00 AM ET – ISM Index – Feb
  • Japan Manufacturing PMI
  • China HSBC Manufacturing PMI
  • Spanish Manufacturing PMI
  • European Manufacturing PMI
  • Great Britain Manufacturing PMI
  • European CPI Flash Estimate
  • European Unemployment Rate
  • Earnings: Mylan

TUESDAY (3/3)

  • 2:00 PM ET – Auto Sales – Feb
  • Australia Building Approvals
  • Reserve Bank of Australia Rate Statement
  • Spanish Unemployment Change
  • Great Britain Construction PMI
  • Canada GDP
  • New Zealand GDT

WEDNESDAY (3/4)

 

  • 8:15 AM ET – ADP Employment Change - Feb
  • 10:00 AM ET – ISM Services - Feb
  • 10:30 AM ET – Crude Oil Inventories
  • Australia GDP
  • European Final Services PMI
  • Great Britain Services PMI
  • European Retail Sales
  • Bank of Canada Rate Statement
  • FOMC Member Charles Evans speaks

THURSDAY (3/5)

  • 7:30 AM ET - Challenger Job Cuts - Feb
  • 8:30 AM ET - Weekly Jobless Claims
  • 8:30 AM ET - Productivity - 4Q
  • 10:00 AM ET – Factory Orders - Jan
  • Australia Retail Sales
  • Australia Trade Balance
  • German Factory Orders
  • Bank Of England Interest Rate Statement
  • ECB Press Conference
  • Canada Ivey PMI
  • FOMC Member John Williams speaks
  • Earnings: Staples

FRIDAY (3/6)

  • 8:30 AM ET - Nonfarm Payrolls - Feb
  • 8:30 AM ET - Unemployment Rate - Feb
  • 8:30 AM ET - Trade Balance - Jan
  • 3:00 PM ET – Consumer Credit - Feb
  • Canada Building Permits & Trade Balance