The forex market and the most important events on the economic calendar this week, February 27 to March 3

[banner-group name='bannerforex']

During this eventful week, the forex market is watching with great interest President Trump's first speech before the US Congress next Tuesday to gather more details of Trump's program of restructuring the tax system and expanding infrastructure spending, and a number of Federal Reserve officials, led by its Chair Janet Yellen, will deliver Speeches on public occasions, which investors are eagerly awaiting to explore the extent to which the reserve is likely to raise interest rates during next March, and the revised reading of US national product data for the fourth quarter of last year is expected to be released, and in Britain, activity data for the manufacturing, construction and services sectors will be published. The release of inflation data for the region during the month of February, and below we list some details of these expected events for this week.

1- Trump delivers his first address to Congress

waiting Forex market During the next week, Trump's statements to the US Congress in his speech scheduled for Tuesday at 9:00 pm ET, where he is expected to focus on highlighting some details about his economic program for the country, in particular reforming the tax structure, including amending the border tax, which A tax of 20% will be imposed on US imports from abroad, and some details of Trump's election promises, including increasing spending on infrastructure and repealing the Obamacare health care law, which the House of Representatives has already begun to take the first measures to repeal, are expected to be revealed.

Although Trump's victory supported the rise in the stock market and the rise of the US dollar against all other currencies, there are fears that the markets will decline if his plan takes a long time to implement.

Forex market

2- Speeches by Janet Yellen and some Federal Reserve officials

Over the course of the next week, a number of Federal Reserve officials are scheduled to give public speeches, and Chairman Yellen will speak to the Chicago Club of Executives, and those speeches and statements may give some indications about the possibility of the Fed raising interest rates during its meeting in March next.

Last week, the Federal Reserve published the minutes of its January meeting, which revealed the necessity of raising interest rates in the short term, but did not specify or indicate the timing of the next rate hike.

3- US Q4 GDP data (second reading)

The forex market is awaiting the release of the revised reading of GDP data for the fourth quarter of last year in the United States, on Tuesday at 13:30 GMT, which is expected to reveal the growth of the American economy by about 2.1% during that period, which comes higher than the initial reading that was estimated Growth by 1.9%.

Some other data is also expected to be published during the week, including durable goods orders, pending home sales, PMI results for the manufacturing sector, the results of the consumer confidence index, weekly unemployment claims, and some large retail sales centers will publish their profits such as Target, Louise, Best Buy. , Costco.

The strong data released during the recent period, which confirms the strength of the US economy, has supported the view that raising interest rates is very imminent.

4- UK PMI Results (Feb)

Several UK data are due to be released, including manufacturing activity data on Wednesday, the next day building and construction activity data, and on Friday services sector activity data.

Expectations indicate a slight decline in the results of the PMI for the manufacturing sector to record 55.5 after reaching 55.9 in January, while the construction sector is likely to show a recovery to record 52.4, higher than 52.2 last month. Otherwise, the service sector activity is expected to decline to 54.2 after reaching 54.5 last month. .

5- Eurozone inflation data for February

Eurozone inflation data for February will be released on Thursday at 10:00 GMT, and the data is likely to show a rise in the CPI by 2%, thus reaching the target rate by the European Central Bank. Core purchase prices are expected to increase by 0.9%, which is Same rate as last month.

Spain, France, Italy and Germany will publish their own CPI reports next week.

It is worth noting that the euro area is witnessing a growing rise in inflation rates, but European Central President Mario Draghi believes that the rise in commodity prices is not a serious matter and that inflationary pressures are still under control.

Best forex company

[bonustable num=3 orderby='_as_rating' sort='desc' tag='forex' version='4′ ]
Mohamed Abdel Khaleq

Leave a Reply

Add a review

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

Forex Brokers Offers

Your capital is at risk

The complete list of forex brokers