Economic calendar: second day of central banks' decisions, BoE and CBRT 📃

• The Bank of England will make a decision on interest rates
• The Central Bank of Turkey will also publish its decision
• Preliminary PMI data for the Eurozone, USA, and UK
• Data on Jobless Claims from the USA
• Speeches by Fed members after yesterday's decision
• Philly Fed Index

Today is probably the most intense day of the current week in terms of macroeconomic publications. Interesting releases are scheduled for both the first part of the day for countries of the Old Continent and the second part of the day for the USA.

At the beginning, market attention will be focused on PMI publications for the Eurozone and the UK. Overall, data for March is expected to be slightly better than the previous month's data. However, in the majority, expectations indicate a publication below the 50-point threshold. Then, attention will shift to the central banks BoE (UK) and CBRT (Turkey). In both cases, the rates are expected to be kept at the same level.

Then, market attention will shift across the ocean to the USA. PMI data in the USA is expected to perform much better than data from the Eurozone. Expectations indicate readings above 50 points for both manufacturing and services.

 

Detailed schedule for the day:

09:15 AM GMT, France - PMI Data for March:

• HCOB France Services PMI: forecast 48.8; previous 48.4;
• HCOB France Composite PMI: forecast 48.6; previous 48.1;
• HCOB France Manufacturing PMI: forecast 47.5; previous 47.1;

09:30 AM GMT, Germany - PMI Data for March:

• HCOB Germany Composite PMI: forecast 47.0; previous 46.3;
• HCOB Germany Manufacturing PMI: forecast 43.1; previous 42.5;
• HCOB Germany Services PMI: forecast 48.8; previous 48.3;

10:00 AM GMT, Euro Zone - PMI Data for March:

• HCOB Eurozone Manufacturing PMI: forecast 47.0; previous 46.5;
• HCOB Eurozone Services PMI: forecast 50.5; previous 50.2;
• HCOB Eurozone Composite PMI: forecast 49.7; previous 49.2;

10:30 AM GMT, United Kingdom - PMI Data:

• S&P Global/CIPS UK Services PMI: forecast 53.8; previous 53.8;
• S&P Global/CIPS UK Manufacturing PMI: forecast 47.9; previous 47.5;
• S&P Global/CIPS UK Composite PMI: forecast 53.1; previous 53.0;

01:00 PM GMT, United Kingdom - BoE Interest Rate Decision for March:

• forecast 5.25%; previous 5.25%;

01:00 PM GMT, United Kingdom - BoE MPC Meeting Minutes

01:30 PM GMT, United States - Philadelphia Fed Manufacturing Index for March:

• forecast -2.6; previous 5.2;

01:30 PM GMT, United States - Employment Data:

• Jobless Claims 4-Week Avg.: previous 208.00K;
• Initial Jobless Claims: forecast 212K; previous 209K;
• Continuing Jobless Claims: previous 1,811K;

02:45 PM GMT, United States - PMI Data for March:

• S&P Global Composite PMI: previous 52.5;
• S&P Global Services PMI: forecast 52.0; previous 52.3;
• S&P Global US Manufacturing PMI: forecast 51.8; previous 52.2;

03:00 PM GMT, United States - Existing Home Sales for February:

• forecast 3.95M; previous 4.00M;

05:00 PM GMT, United States - Fed Vice Chair for Supervision Barr Speaks