Economic Calendar : US Retail Sales & Stimulus Talks

Government's’ actions boost market sentiment

US retail sales data due today

US futures surged overnight after the worst Wall Street cash session in decades. Moods were boosted by actions of governments aimed at mitigating impact of the coronavirus outbreak. Upbeat moods may extend into European trading after French Finance Minister said that the country will deliver a €45 billion stimulus package. Elsewhere, there are growing expectations that the United States will unleash massive fiscal stimulus. On the data front, US retail sales print is the key point in the calendar but it may be overlooked as it does not capture the impact of the virus.

European & US session

9:30 am GMT - UK, labour market report for January.

10:00 am GMT - Germany, ZEW index for March. Expected: -26.4 pts. Previous: 8.7 pts

12:30 pm GMT - Canada, manufacturing sales for January. Expected: -0.5% MoM. Previous: -0.7% MoM

12:30 pm GMT - US, retail sales for February. The US retail sales report is usually at the top of the agenda for the day. However, the coronavirus outbreak has changed the landscape and data that does not capture its impact has little to no value for investors. Today’s report relates to February therefore any major impact is unlikely to be seen. Headline gauge is seen rising 0.2% MoM while sales excluding autos should increase 0.2% MoM as well.

1:15 pm GMT - US, industrial production for February. Expected: -0.1% MoM. Previous: 0.1% MoM

8:40 pm GMT - API report on oil inventories. Expected: +2.9 mb. Previous: +6.4 mb

Asian session

11:50 pm GMT - Japan, trade data for February.

Central bankers’ speeches

10:00 am GMT - ECB’s Rehn



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