Mario Blascak, PhD
Independent Analyst
What you need to know before markets open
Main themes:
- The US banks were closed in observance of Presidents' Day with FX market liquidity lower on Monday.
- The Bank of Japan Governor Kuroda said he is ready to buy more assets in order to reach the inflation target.
- The UK labor market report for January is expected to see the UK wages rise 3.5% over the year in three months to December while the unemployment rate is expected to remain stuck to a four-decade low of 4.0%. For detail read my UK Labor market Preview here.
Japan
- The Bank of Japan governor Haruhiko Kuroda said he may consider easing if Yen moves impact economy and prices. Kuroda said the BoJ has no plans to reduce ETF purchases while admitting that the purchases of ETFs have impacted markets. Kuroda said he will consider extra easing to hit price target if needed by lowering yields or buying more assets.
Europe
- German ZEW investors’ confidence is expected to improve marginally to -13.4 in February from -15.0 in the previous month.
- The ZEW index for the Eurozone is also expected to improve a bit in February to -18.2 from -20.9 in the previous month.
- ECB Vice President Luis de Guindos participates in a panel discussion on future of Euro in European parliament in Brussels at 10:15 GMT.
- ECB chief economist Peter Praet is speaking in a panel discussion at the event organized by Allianz in Berlin at 15:00 GMT.
UK
- The UK Cabinet Minister Lidington said his experience last week in Brussels was that there were more than just a courtesy talks on Brexit.
- Seven members of UK parliament from the opposition Labor party said they are breaking away to form an independent group in protest of the party’s failure to stamp out anti-Semitism and its support for Brexit.
- The UK Prime Minister's spokesman confirmed that the UK still wants to re-open Brexit withdrawal agreement.
- The UK labor market report for January is expected to see the UK wages rise 3.5% over the year in three months to December while the unemployment rate is expected to remain stuck to a four-decade low of 4.0%. For detail read my UK Labor market Preview here.
US
- The US banks were closed in observance of Presidents' Day with FX market liquidity lower.
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