February 28, 2022
The Reserve Bank of Australia is expected to keep rates at 0.10%.
Possible Influence: Volatile AUD
January's PMI printed at 57.6. The consensus forecast for February is 58.1.
Possible influence: Volatile US Dollar, Gold and US Stocks
U.S. President Joseph Biden will give his annual State of the Union Address to a joint session of the United States Congress. President Biden is expected to speak about the war in Ukraine, foreign policy, inflation, crime, and other domestic issues.
Possible Influence: Volatile US Dollar, Gold and US Stocks
OPEC and Non OPEC Ministers will meet to discuss whether to continue the current OPEC deal and are likely to continue adding 400k of oil output per month to the market.
Possible Influence: Volatile Brent and Crude Oil (WTI) prices
Chairman Powell is scheduled to testify before Congress about monetary policy and recent interest rate decisions taken by the U.S. Federal Reserve.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The Unemployment rate for January was 4.0%. It is expected to remain unchanged at 4.0% in February. Non-Farm Payrolls are expected to fall to 350,000 for February, lower than January’s figure of 467,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The European Central Bank will meet to decide whether to change rates. No changes in the deposit rate of -0.50 expected. A press conference will follow the meeting.
Possible Influence: Volatile EUR and European stocks
Core CPI (excluding food and energy) was 6.0%, Year-over-Year in January. February’s Core CPI is expected to rise to 6.5%, Year-over-Year. Top-line CPI for January came in at 7.5%, Year-over-Year. The forecast for Top-line CPI for February is 7.7%, Year-over-Year.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Retail Sales rose 3.8%, Month-over-Month, in January. Retail Sales for February are forecast to rise 0.9%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Fed expected to increase interest rates from 0.25% to 0.5%, but some analysts believe a more radical increase from 0.25% to 0.75% is possible. Analysts project further rate hikes later this year to control inflation.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Bank of England set to meet to decide interest rates. Most analysts expect rates to remain at 0.50% and traders will be monitoring the press conference following.
Possible Influence: Volatile GBP and UK stocks
The Bank of Japan is expected to maintain interest rates at -0.10
Possible Influence: Volatile JPY
4th Quarter season slows down but continues in March. Stocks expected to report their quarterly fiscal results include Nio, Chronos, Salesforce, Plug Power, Chargepoint, Best Buy, Costco, The Gap, XPeng, Tilray, Rivian, Federal Express, Nike, and Micron.
Possible Influence: Volatile US Stocks and Indices
The Russian invasion of Ukraine is underway. This is a volatile situation that changes hour to hour. The vast majority of countries and world leaders have condemned the invasion and have imposed serious sanctions on Russia’s financial system, Russian businesses including aviation, and Russian oligarchs close to President Putin and their families. The West has also imposed personal financial sanctions on Russian President Putin and Russian Foreign Minister Lavrov. At the time of this writing, Russian energy is still flowing to Europe, but that could change.
Possible Influence: Volatile US Dollar, Volatile Russian Ruble, Gold, Oil, Palladium, and US Stocks
