Article by Investazor.com
Euro managed to close the 4th week on positive ground. Even though last week didn’t start very good because of the low German economic data things have changed in the second half. The 0.8% inflation has risen investor’s optimism and that was seen also on the EURUSD chart. The Euro has passed again above 1.38 key level. Even though it didn’t close the day and week above this level it still a big step for the European single currency.
Next week’s economic calendar is full with important releases and events. Continue reading our article to see what the most expected indicators are and what technical analysis suggests.
Spanish Manufacturing PMI (08:15 GMT) – This economic indicator for the Spanish Manufacturing sector has surprised the market with the first two releases of this year, above expectations. In February it was published 52.2 and it is expected for Monday to be even higher at 53.2.
Italian Manufacturing PMI (08:45 GMT) – 30 minutes after the Spanish PMI it is expected to be released the Italian one. Italy had a very good January release but it didn’t keep the same line for February. Last month the Manufacturing PMI was released 53.1, which was 1.1 points under estimates. This month the expectations are lowered to 53.3.
ECB President Draghi Speaks (14:00 GMT) – He is due to testify before the Committee on Economic and Monetary Affairs of the European Parliament, in Brussels.
ISM Manufacturing PMI (15:00 GMT) – This is one of the top leading indicators from USA. In January its release didn’t brought any surprise. In February it was almost 5 points lower than its estimates. For Monday the expectations are lowered from 56.2 all the way to 52.3. It usually triggers volatility in the market, especially when it comes as a surprise.