Economic Events Of The Coming Week

Monday: Manufacturing Purchasing Managers' Indices will be released globally. Among these, it will be interesting to follow the final print for January's HSBC China Manufacturing PMI, as well as the Russian PMI, both of which slightly below the pivotal 50 point bar. The day will also see the release of January's Vehicle Sales in Japan, and Spain's January Unemployment data. In the U.S., December Personal Income and Personal Spending data will be released.

Tuesday: Preliminary January Consumer Price Index data will be released in Italy. In the U.S., December Factory Orders data will see light.

Wednesday: The day will see the release of some Services \ Composite Purchasing Managers' Indices released around the world. In the U.S., The weekly MBA Mortgage Applications will be released, after a 3.2% drop. In the U.S., the ADP Employment Report will be released, where analyst consensus sees the U.S. labor market continuing to recover with a 225K monthly gain.

Thursday: December Factory Orders data will be released in Germany, following a -2.4% month over month contraction in November. The Bank of England is scheduled to release a rate announcement, with its rate currently at 0.5%. The weekly Initial Jobless Claims will be released in the U.S., after dropping to 265K last week. The day will also see December's Trade Balance data released in the U.S.

Friday: December Industrial Production data will see light in Germany – Analysts expect a 0.4% month over month gain. The U.S. January Change in Nonfarm Payrolls will be interesting to follow, as well as the monthly Unemployment, currently at 5.6%.