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March 25th’s Events: Earnings, US PCE, AU CPI, and More

Plus500 | Monday 25 March 2024

March may be nearing its end, but its economic events and releases are far from over. The week of March 25th is poised to be eventful as economic releases from some of the world’s leading economies are set to take place, possibly reflecting the state of the markets as we head into a new month. Here are this week’s main economic events:

AN ILLUSTRATION OF ECONOMIC CHARTS

US Data: How Is the World’s Biggest Economy Faring?

This week, a myriad of economic data is set to reflect the state of the world’s largest economy. Here are the main releases:

US PCE 

On Friday, March 28th, the US Bureau of Economic Analysis (BEA) is set to report the Personal Consumption Expenditure (PCE) which gauges consumer spending, hence providing insight into the state of the economy.

Friday’s PCE report will reflect US consumer spending in February and is expected to increase by 2.5% YoY, if this prediction materializes, then it will be above January’s figures. On the other hand, Core PCE (excluding energy and food prices) is predicted to gain 2.8%, which is the same as January’s Core PCE numbers. 

Traders and consumers alike may want to note that Friday’s PCE data follows last week’s FOMC rate decision, whereby the Fed projected three rate cuts by the end of the year. As such, the upcoming PCE report will also play a vital role in determining the US Central Bank’s monetary policy and when these rate cuts will occur. 

Fed Speak 

The Federal Reserve is one of the world’s most powerful financial institutions and its decisions shape the trajectory of the US economy and the financial markets. 

As such, this week’s Fed speeches by Fed Chair Jerome Powell, Fed Governor Christopher Waller and Lisa Cook, and Atalanta Fed President Raphael Bostic, may be of interest to many.

While the content of their speeches is yet to be determined, some market experts “believe that it is likely that the Fed speakers over the coming weeks will lean more on the hawkish side”.

However, only time will tell what this week’s speeches will actually look like. 

More US Data

Besides the PCE release, traders may want to keep track of this week’s US Home Price Data which are projected to increase slightly and are expected to be reported on Tuesday. 

Additionally, the final estimate of the US Q4 Gross Domestic Product (GDP) is set to be reported tomorrow, March 26th.

Australia’s CPI  

Beyond the US, this week may be important for Australia’s economy. Australia’s Consumer Price Index (CPI), which measures inflation and is referred to by Central Banks, will be released on Wednesday, March 27th. 

The data is projected to rise by 3.6% YoY compared to the previous 3.4%, thus showing that inflation may still be sticky. 

It will be interesting to see how these figures will affect the Reserve Bank of Australia’s (RBA) decisions. 

Generally speaking, the projections seem to point towards an upcoming rate cut in August, but since the RBA’s next meeting is due to take place in May, a plethora of data can affect this prediction.

Earnings Reports: Carnival, BlackBerry & Walgreens

After last week’s highs, whereby Wall Street Indices like the S&P 500, the Dow Jones Industrial Average (USA 30), and the Nasdaq (US-TECH 100) soared, it will be worth seeing how this week’s corporate earnings releases will affect the stock market.

BlackBerry (BB), and Carnival (CCL) will report quarterly earnings on Wednesday, March 27, while Walgreens (WBA) will report on Thursday, March 28th. What will these big names reveal about the state of the economy? (Source: Bloomberg)

Short Trading Week: Markets Close on Good Friday

Despite the myriad of events scheduled for this Friday, the stock market will be closed for trading in observance of Good Friday, a Christian holiday that commemorates Jesus Christ’s crucifixion and death at Calvary.

Conclusion

Despite the fact that this is a short trading week, key economic events and releases will take place, thus reflecting the health of the global economies and providing valuable insights as to where the financial markets may be headed.


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