Reliance Trading Co. Limited – What one can expect in Global Markets This Week

As the outbreak of Covid19 Virus (Coronavirus) continues to spread all throughout the globe, U.S. stocks drop down into a correction last week.
By: Reliance Trading Co Limited
WAN CHAI, Hong Kong - March 3, 2020 - PRLog -- As the outbreak of Covid19 (Coronavirus) continues to spread all throughout the globe, U.S. stocks drop down into a correction last week. Italy and Russia were among the global markets that are deeply affected, while China on the other hand has reported its biggest drop yet in its purchasing manager's index – a headwind turn of events just this Saturday.

As traders hold on to the markets inevitability on the following weeks, an unverified news saying that Federal Reserve and the Central Banks are going to cut interest rates to sustain equity markets. An all-time low of earnings on the 10th and 30th year U.S. Government Bonds, the possibility of more rate cuts is more likely.

Listed down are some or not the most economic events on the weeks ahead;

Monday (March 2, 2020)

-       French Manufacturing PMI (Feb)
-       German Manufacturing PMI (Feb)
-       U.S. Manufacturing PMI (Feb)
-       Eurozone Manufacturing PMI (Feb)
-       U.K. Manufacturing PMI (Feb)
-       U.S. Institute for Supply Management Manufacturing PMI (Feb)

Tuesday (March 3, 2020)

-       Eurozone Preliminary Consumer Price Index (CPI) (Feb)
-       Eurozone Unemployment Rate (Jan)
-       Caixin Services PMI (Feb)
-       U.K. Construction PMI (Feb)
-       Japanese Services PMI (Feb)

Wednesday (March 4, 2020)

-       German Services PMI (Feb)
-       Federal Reserve Beige Book on Economic Conditions
-       U.K. Services PMI (Feb)
-       U.S. ISM Non-Manufacturing PMI (Feb)
-       French Services PMI (Feb)
-       Eurozone Services PMI (Feb)
-       Eurozone Composite PMI (Feb)
-       U.K. Composite PMI (Feb)
-       Eurozone Retail Sales (Jan)
-       Brazilian GDP (Q4)
-       German Retail Sales (Jan)
-       U.S. ADP Nonfarm Employment Change (Feb)
-       Bank of Canada Interest Rate Decision

Thursday (March 5, 2020)

-       U.S. Nonfarm Productivity (Q4)
-       U.S. Factory Orders (Jan.)
-       U.K. RICS House Price Balance
-       OPEC Meeting
-       Japanese Household Spending (Jan.)

Friday (March 6, 2020)

-       U.K. Halifax House Price Index (Feb.)
-       U.S. Trade Balance (Jan.)
-       U.S. Average Hourly Earnings (Feb.)
-       Canadian Employment Change (Feb.)
-       Canadian Trade Balance (Jan.)
-       U.S. Unemployment Rate (Feb.)
-       Canadian Ivey PMI (Feb.)
-       German Factory Orders (Jan.)
-       OPEC Meeting Continues

Saturday (March 7, 2020)

-       Chinese Trade Balance (Feb)


Aside from China, the economy of Europe also relies on exports. German exports as a percent of GDP were a staggering 47%, as of 2018, data are recently available posted for the full year. The figure was 31% in France and 32% in Italy. Comparing the U.S. percentage is 12%, and China's is 19.5%.

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