The list of important news the week includes a WHO forum, new Fed chair candidates and the anticipated resumption of economic activity in China.
Major Events on the Economic Calendar
- The UK releases a preliminary Q4 GDP report on February 11.
- The Reserve Bank of New Zealand releases its interest rate decision on February 12.
- The US releases an update on the country’s core CPI on February 13.
- Germany releases a Q4 GDP report on February 14.
February 10. The End of Holidays in China
The extended holidays in China come to an end. The government promised to support manufacturers after coronavirus-related forced downtime. Let us recall that more than 28000 people had been infected in China by the end of the first week of February.
February 11. US Democratic Party Primary
The members of US Democratic Party will take part in debates. The next primary will be held in New Hampshire. Let us recall that a caucus in Iowa revealed two leaders of the race – Pete Buttidzic and Bernie Sanders. However, the New Hampshire primary might change the balance of power.
February 12. Forum to Fight Coronavirus
The WHO forum in Geneva will bring together hundreds of medical experts on February 11-12. The experts will discuss actions to fight the new coronavirus (2019-nCoV). Last week, Chinese specialists announced a development in their work on a vaccine against it. The news propelled the oil quotes. The forum can affect the market in the same way.
February 13. Freshmen in the Fed
The US Senate Banking Committee will discuss two Trump’s Fed chair nominees – Judy Shelton and Christopher Waller. Shelton was an economic advisor to Donald Trump during his presidential campaign, and Waller is a director of research at Federal Reserve Bank of St. Louis. If the Committee approves their candidacy, it may be seen as an indirect signal of the monetary policy easing in the long-term.
February 14. Trade Deal in Action
China will lower tariffs on $75 billion worth of US goods. Let us recall that last month, China and the US signed a trade deal that stabilized the financial market situation.