Last Week
UK shares rose on Friday, the last trading day of the month, as commodity-sector stocks gained ground and the regions quarterly growth estimate was revised higher. The FTSE closed up 1.5% to 5,354.52 taking back some losses made in the previous session and bringing gains this month to 3.2%.GDP estimates for the UK were revised higher on Friday, with fourth quarter GDP revised up to 0.3% from 0.1%.
In the US, growth numbers revised moderately upwards and solid Chicago manufacturing index figures gave support to US stocks on Friday, although markets lacked a clear direction. At the closing bell the S&P 500 was up 0.1% at 1,104.49 but 0.6% lower on the week. The DOW was flat at 10,325.26 but lost 0.8% during the week.
On the currencies front, the pound tumbled to a nine month low against the dollar and its weakest level against the yen for 11 months.
This Week
European shares jumped this morning, with miners advancing amid worries about copper shortages following the massive earthquake in Chile.
With regards figures out this week, today at 3pm we have Construction Spending out in the US.
On the Wednesday the main figures will be the MBA Mortgage Applications out at 12.00.
Thursday sees the BOE announce rates at 12.00, while in the US Initial jobless claims are out at 13.30 and Factory orders are out at 15.00.
On Friday we have the Non Farm Payrolls in the US at 13.30.
Economic Calendar:
| Date | Time | | Event | Period | Survey | Prior |
Mon
1st MAR | 09:30 | UK | M4 Money Supply (MoM) | JAN F | - - | 0.60% |
| | 09:30 | UK | M4 Money Supply (YoY) | JAN F | - - | 5.10% |
| | 09:30 | UK | PMI Manufacturing | FEB | 56.4 | 56.7 |
Tues
2nd MAR | 09:30 | UK | PMI Construction | FEB | 48.7 | 48.6 |
Mon
1st MAR | 13:30 | US | Personal Income | JAN | 0.40% | 0.40% |
| | 13:30 | US | Personal Spending | JAN | 0.40% | 0.20% |
| | 13:30 | US | PCE Deflator (YoY) | JAN | 2.20% | 2.10% |
| | 13:30 | US | PCE Core (MoM) | JAN | 0.00% | 0.10% |
| | 13:30 | US | PCE Core (YoY) | JAN | 1.40% | 1.50% |
| | 15:00 | US | ISM Manufacturing | FEB | 57.9 | 58.4 |
| | 15:00 | US | ISM Prices Paid | FEB | 68 | 70 |
| | 15:00 | US | Construction Spending MoM | JAN | -0.50% | -1.20% |
Tues
2nd MAR | 22:00 | US | ABC Consumer Confidence | Feb-28 | - - | -50 |
| | 22:00 | US | Domestic Vehicle Sales | FEB | 8.00M | 8.19M |
| | 22:00 | US | Total Vehicle Sales | FEB | 10.50M | 10.82M |
Wed
3rd MAR | 12:00 | US | MBA Mortgage Applications | Feb-26 | - - | -8.50% |
| | 12:30 | US | Challenger Job Cuts YoY | FEB | - - | -70.40% |
| | 13:15 | US | ADP Employment Change | FEB | -10K | -22K |
| | 15:00 | US | ISM Non-Manf. Composite | FEB | 51 | 50.5 |
| | 19:00 | US | Fed's Beige Book | Mar-02 | | |
Thurs
4th MAR | 12:00 | UK | BOE ANNOUNCES RATES | Mar-04 | 0.50% | 0.50% |
| | 13:30 | US | Nonfarm Productivity | 4Q F | 6.20% | 6.20% |
| | 13:30 | US | Unit Labor Costs | 4Q F | -4.40% | -4.40% |
| | 13:30 | US | Initial Jobless Claims | Feb-27 | 475K | 496K |
| | 13:30 | US | Continuing Claims | Feb-20 | - - | 4617K |
| | 15:00 | US | Factory Orders | JAN | 1.20% | 1.00% |
| | 15:00 | US | Pending Home Sales MoM | JAN | 1.50% | 1.00% |
| | 15:00 | US | Pending Home Sales YoY | JAN | - - | 10.50% |
| | 15:30 | US | ICSC Chain Store Sales YoY | FEB | - - | 3.00% |
Fri
5th MAR | 09:30 | UK | PPI Input NSA (MoM) | FEB | 0.20% | 2.00% |
| | 09:30 | UK | PPI Input NSA (YoY) | FEB | 7.80% | 8.40% |
| | 13:30 | US | Change in Nonfarm Payrolls | FEB | -40K | -20K |
| | 13:30 | US | Unemployment Rate | FEB | 9.80% | 9.70% |
| | 13:30 | US | Change in Manufact. Payrolls | FEB | -20K | 11K |
| | 13:30 | US | Avg Hourly Earning MOM All Emp | FEB | 0.20% | 0.20% |
| | 13:30 | US | Avg Hourly Earning YOY All Emp | FEB | 2.20% | 2.00% |
| | 13:30 | US | Avg Weekly Hours All Employees | FEB | 33.7 | 33.9 |
| | 22:00 | US | Consumer Credit | JAN | -$3.8B | -$1.7B |