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Published: Mar 08, 2023
Updated: Mar 08, 2023

Markets Await Key Economic Data Releases This Week: India IIP, US Jobs, Powell’s Testimony, China Inflation, and More

The coming week is going to be a significant one for markets worldwide as there are several important economic data releases in India and globally. From the industrial production and manufacturing production data in India to the US non-farm payroll and unemployment rate for February, there are plenty of data points that will shed light on how the macroeconomic data for major economies looked last month. The week also brings the interest rate decisions from the Bank of Canada, Bank of Japan, and Reserve Bank of Australia. Here are some of the significant events to keep an eye on in the coming week.

India Economic Data:

The industrial production data and manufacturing production data for January will be released on March 10, providing insights into the performance of the manufacturing sector in India, which is an essential sector for the country's economy. The IIP data measures the growth of various sectors, including manufacturing, mining, and electricity, and is a crucial indicator of economic activity.

China Economic Data:

China will release its trade data for February on March 7, which will include information on the country's imports and exports for the month. Additionally, China's inflation data for February will be released on March 9. A higher inflation rate could indicate an overheating economy and could lead to tighter monetary policy.

US Economic Data:

The US non-farm payrolls and unemployment rate for February will be disclosed on March 10. The labour market has been a critical factor in the US economic recovery, and these data points will provide insights into the health of the job market in the US.

Moreover, US Fed Chair Jerome Powell will give his testimony to the US Banking Committee on March 7 and 8, providing an overview of the monetary policy decisions and the future of the US economy.

Eurozone, UK, and Japan Economic Data:

In addition to the US and China, there are several critical economic data releases scheduled for the week from the Eurozone, UK, and Japan. The revised Q4 GDP (QoQ) 3rd estimate for the Eurozone, UK GDP January MoM, and Q4 GDP for Japan will be released. These data points will provide insights into the economic health of these countries.

Earnings Season:

The global earnings season continues next week, with key reports expected from Adidas, Gap, and Ferguson, among others. The earnings of these companies will provide insights into the performance of the global economy and various sectors.

Need to closely watch global cues and data coming in from various central banks and agencies

The upcoming week is going to be an eventful one for the markets worldwide, with several important economic data releases and interest rate decisions. Investors and traders will closely watch the indicators mentioned above to make informed decisions about their investments. The key takeaway from this week's events is that the global economy is showing mixed signals, and it is essential to stay vigilant and react accordingly to the developments in the markets.