Report: Important global economic news of this week - TOP 5

Report: Important global economic news of this week - TOP 5 Main focus will be on ECB and BOJ
March 5, 2018 10:57
Report: Important global economic news of this week - TOP 5

Baku. 5 March. REPORT.AZ/ The most important global economic news for the global financial market from March 5 to 11 will be announced in Japan, US, Great Britain and China.

Analytical Group of Report News Agency has defined below top 5 economic news that may influence the global financial market this week:

1) The 2nd Monetary Policy Meeting of the European Central Bank (ECB) for 2018 will be held on March 8 at 16:45 pm Baku time. ECB is not expected to change its discount rate. 45 minutes after the decision, the head of the organization Mario Draghi will hold a press conference. For Investors, Draghi's evaluation of inflation and ending time of monetary stimulus will be of importance;

2) On March 9, the Central Bank of Japan (BOJ) will announce the results of a two-day monetary policy meeting. Analysts do not expect any change in BOJ's decision. Investors will follow Governor of BOJ Haruhiko Kuroda about the exchange rate of the Japanese yen, which has been strengthened against dollar in recent days;

3) Important economic indicators are expected to be disclosed in the US during the week. Employment index for non-agricultural sector will be announced on March 9. Analysts are expecting jobs to rise to 204,000 units. In January this figure was 200 thousand. At the same time, the unemployment rate in the US is likely to drop to 4%, which is a minimum of 17 years. Also, the focus will be on wage growth in the US It is projected that the increase will be the same as in January (0.3%). The annual growth rate is expected to be 2.8%. Growth in wages will be regarded as signals of inflation acceleration;

4) The report of the leading service sector in the UK on March 5 will be announced. The PMI index is expected to rise slightly to 53.5 points. Also, Prime Minister Theresa May’s announcements on relations with the European Union after Brexit will be closely followed;

5) China's February trade balance will be announced on March 6. According to forecasts, exports expected to grow by 13.9% while imports by 11.1%. Inflation and production prices will be released in China on March 9. Two-week China's National People's Congress starts today.

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