Research Team at ING, presents their view on the key economic releases and events of the forthcoming week for developed markets.
Key Quotes
“In the US, the labour report will naturally capture most of the attention over the next week. After two months of (suspiciously) large increases in the household survey (1.1 million cumulatively), this could quite easily reverse slightly in February and push the unemployment rate back up to 5%. Either way, the focus at the moment is on whether the US is entering a recession, something which labour market data (which is a lagging indicator) is not able to help with. As such, the non-manufacturing ISM will be closely monitored for signs of a further fall in sentiment, particularly after a sharp fall in the equivalent Markit PMI.
It will be the last full week ahead of the big March ECB meeting. High time for market speculations about what the ECB will actually do. Lower inflation rates from Germany will feed the arguments of the ECB doves. We will pay extra attention to Peter Praet’s speech in New York and any other official ECB comments.”
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