Analytics

Weekly News 03.02 — 07.02.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade


The list of important events of the week includes the beginning of the US election debate, US labour market data and negotiations between Madrid and Barcelona.

 

Major Events on the Economic Calendar

  • China is to release the country’s Manufacturing PMI on February 3.
  • The Reserve Bank of Australia releases its interest rate decision on February 4.
  • The US releases its ADP Employment Report on February 5.
  • Australia releases a report on the country’s retail sales on February 6.
  • The US releases Nonfarm Payrolls on February 7.

 

February 3. Opening of the Chinese Markets

China’s financial markets will open after the Lunar New Year break. It will become clear how they have been affected by the epidemic. Recall that due to the outbreak of 2019-nCoV coronavirus a number of industries and state institutions have suspended their activity. Some experts believe that the country’s GDP for the first quarter may come in below 5%.

February 4. Donald Trump Speaks before Congress

US President Trump is to deliver the annual address to Congress. He is expected to focus on the topics of success in the labor market, stock market growth, the country’s position on the world stage.

The US leader has to start earning political points as soon as the next presidential election will be held in autumn. It is especially relevant in the context of the president’s extended impeachment trial.

February 5. Salvation of Argentina

Argentine Economy Minister Martin Guzman is to meet IMF Managing Director Kristalina Georgieva in Vatican to discuss Argentine government’s $100 million debt restructuring. We remind you that a sharp decline in the value of peso was among the factors that led to Argentina’s economic problems.

February 6. Catalan Separatist Talks

Prime Minister of Spain Pedro Sanchez is to hold talks with Catalan separatists. A second referendum on the separation of Catalonia is quite likely to take place.

One of the imprisoned separatist leaders is confident that Catalan citizens will vote for independence from Spain again.

 

February 7. US Democratic Debate

The Democratic Party will hold national presidential debate in the US. Seven candidates are known to have been qualified for the debates, including Michael Bloomberg, a former Mayor of New York City, and Joe Biden, a former vice president.

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