Asia week ahead: Central banks decide on policy next week

Asia week ahead: Central banks decide on policy next week

ING Economics ING Economics 18.05.2023 12:52
Next week’s data calendar features policy rate decisions from Korea and Indonesia plus key data from Taiwan and Singapore Source: Shutterstock Service led growth to remain robust in Japan Flash PMI and core machinery orders data will confirm that service-led growth is continuing in Japan despite weak manufacturing activity. This trend should also be reflected in prices, with core inflation excluding food and energy rising faster than headline inflation. Sentiment to remain sluggish in Korea Consumer and business surveys are expected to show that sentiment has improved from the recent dip, but overall sentiment indices should remain sluggish. Meanwhile, the Bank of Korea will meet next Thursday but no action is expected as inflation continues to slow. Chinese banks to keep Loan Prime Rates unchanged Chinese banks should decide to maintain both the 1Y and 5Y Loan Prime Rates on Monday, which are currently at 3.65% and 4.3%, respectively. We expect banks to hold because the People's Bank of China (PBoC) has opted to maintain policy rates. The PBoC has also said that we could see higher CPI inflation in the near term. Weak demand for semiconductor chips to weigh on Taiwan's economy Taiwan export orders and industrial production should show a more than 10% year-on-year contraction in April given the still weak demand for semiconductor chips. The current situation might not improve materially until demand for new models of US smartphones exceeds current production expectations. This is quite unlikely as the US economy is weakening. Bank Indonesia set to extend pause Bank Indonesia will likely keep policy rates untouched next week. Fading price pressures have allowed the central bank to extend its pause, keeping rates at 5.75% since January.  Renewed pressure on the Indonesian rupiah, however, could mean that the central bank will need to hold off on rate hikes for now to ensure FX stability. Soft industrial production in Singapore Industrial production will be reported next week, and we expect sluggish exports to weigh on output for at least another month. Industrial production has largely tracked the downturn in non-oil domestic exports and the sustained slump for electronics and petrochemicals should result in another month of soft industrial production as well. Key events in Asia next week Source: Refinitiv, ING Read this article on THINK Tags Emerging Markets Asia week ahead Asia Pacific Asia Markets Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Nasdaq 100 posted a new one year high. S&P 500 ended the day unchanged

This week's earnings schedule - Q1 revenues of Walmart and Target

Michael Hewson Michael Hewson 15.05.2023 13:42
  Walmart Q1 24 – 18/05 – when Walmart reported its Q4 numbers back in February, the shares fell sharply in the days after, before rebounding off 5-month lows and the 200-day SMA on the 10th March. The reaction was surprising given that the retailer saw a record quarter, with revenues coming in at $164.05bn, although the weaker outlook may have had a part to play in that. US comparable sales rose by over 8%, while profits came in at $1.71c a share, building on the solid numbers seen in Q3. On the outlook, Walmart said it expected to see Q1 sales growth of 5%, and profits of between $1.25c to $1.30c a share, with the full year pictureR appearing to be more challenging. Consensus forecast appears to align with this, with revenues expected to come in at $148.36bn, and profits of $1.30c a share. Since those 5-month lows in March Walmart shares have risen sharply, rising to 11-month highs in April. Annual EPS profits are expected to be lower than last year's $6.29c a share, at between $5.90 to $6.05c a share.   Target Q1 24 – 17/05 – Target shares have struggled since hitting 6-month highs at the start of February and have been languishing since reporting a sharp fall in Q4 profits back in February. These numbers in Q4 came against a backdrop of a cut to its guidance in Q3, and while sales in Q4 increased by 1.2% to $30.98bn pushing annual sales up by 2.8% to $107.59bn. Q4 profits fell by 41% to $1.89c a share, or $876m, but were still better than forecast. Annual profits came in at $2.78bn or 5.98c a share, a decline of 57.6%. Higher costs have been the main problem for Target as a business, these rose by 9.7% to $82.2bn over the year. This appears to be a turned that might continue with Target's Q1 guidance particularly underwhelming. Sales are expected to come in a wider range, either side of zero, from a low single digit decline to a low single digit increase, with profits expected to come in between $1.50c to $1.90c. For the full year Target is expecting a similar sales performance as Q1. Consensus forecast for same-store sales is for a rise of 1.3% on revenues of $25.2bn, and profits of $1.79c a share. Read next: BT Group full year earnings expected to hit £20.53bn. Would Burberry earnings go hand in hand with LVMH and Hermes counterparts?| FXMAG.COM    
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easyJet earnings are published this week - the company expects H1 losses to be less than expected

Michael Hewson Michael Hewson 15.05.2023 13:15
  US Retail Sales (Apr) – 16/05 – US retail sales growth has been reasonably resilient so far year to date, starting strongly in January at 2.4%, before slowing to 0% in February, while March was revised up from -0.8% to -0.4%. Inflation has continued to fall back against a backdrop of a resilient labour market, while recent earnings numbers have been broadly positive which augurs well for this week's numbers from Walmart and Target. The recent turmoil in the US banking sector does appear to be giving consumers some pause when it comes to their spending patterns, with the weakness in March, which could spill over into this week's April retail sales numbers, especially given that one year inflation expectations jumped sharply higher during the month to a 6-month high of 4.6%. Consensus is for a 0.4% gain.    EU Q1 GDP – 16/05 – the recent Q1 GDP numbers from Spain, Italy, Germany and France showed an EU economy that was slightly more resilient than was expected... ...at the end of last year, largely due to the milder winter which kept energy costs down. Nonetheless the recent EU flash Q1 GDP numbers were a little surprising as they came in weaker than expected at 0.1%, at the end of last month, while Q4 was revised lower to a -0.1% contraction. This week's final Q1 numbers aren't expected to provide any surprises but given the weakness in manufacturing there is a concern that any recovery in Q2 might be snuffed out by the ECB's continued tightening measures.             easyJet H1 23 – 18/05 – airlines have seen some steady gains so far this year with the easyJet share price hitting its highest level since June last year in mid-April when the airline reported its Q2 results. The airline said it expects H1 losses to be less than expected, about £400m, while saying it expects to exceed full year expectations of profits of £260m. A 35% rise in passengers in Q2, and a 43% rise in revenue per seat was followed by a reiteration of its H2 guidance of 56m seats, a rise of 9%. An upgrade to easyJet holidays guidance to 60% growth year on year was also welcome. Group revenue is expected to come in at £2.69bn, while costs are expected to be around £3.1bn, due to higher fuel prices. The load factor in Q2 was 88% with an expectation that this moves into the mid 90% during H2. Read next: Bank of England raised the interest rate, UK unemployment data go out tomorrow| FXMAG.COM
Asia Morning Bites - 10.05.2023

Asia week ahead: Inflation readings from China and India

ING Economics ING Economics 04.05.2023 12:50
Next week’s data calendar features several inflation reports from China, India, and the Philippines. Meanwhile, we will also get trade data from China and Taiwan plus labour data from South Korea Source: Shutterstock Inflation to ease in India April inflation data in India will likely show another steep decline, taking the inflation rate closer to the mid-point (4%) of the Reserve Bank of India’s (RBI's) inflation target. We expect the CPI index for April to rise by 0.4% month-on-month. That is a full percentage point lower than the comparable increase in April 2022, and should take the inflation rate down to 4.7%. At these levels, a debate about the timing and extent of future easing of the repo rate by the RBI will likely start, and this could weigh on the Indian rupee, though any such change would ultimately be supportive of growth. We still expect easing to commence later this year, perhaps as early as the third quarter. Trade data from China and Taiwan China and Taiwan will release trade data next week. Due to weak external demand, we are expecting exports for both economies to slow. However, we note that China’s electric vehicle exports could see an increase on a yearly basis as Chinese car manufacturers are looking to exports as their key strategy, on top of organic growth in the domestic market. Jobless rate to rise in Korea The jobless rate in Korea is expected to rise in May with sluggish construction and manufacturing hiring. Meanwhile, the government's job programme likely added more jobs. Loan growth and price figures from China Next week, China will also announce loan growth, which should be growing mildly starting from April as Chinese banks usually book loans in the first quarter. Slower loan growth in April should not be interpreted as low loan demand as most of the loans for the year have already been booked. Read next: Spanish tourism boom propping up a weakening economy| FXMAG.COM Meanwhile, China should continue to show modest CPI inflation, and weaker manufacturing activities should continue to put deflationary pressures on PPI. Philippine GDP to slow as inflation bites The Philippines will release first-quarter GDP data next week and we are expecting a year-on-year expansion of 6.5% down from 7.2% previously. Growth will be supported by household consumption, although we note a slowing trend as elevated inflation saps some purchasing power. Meanwhile, capital formation will likely be subdued given moderating bank lending after Bangko Sentral ng Pilipinas (BSP) sustained rapid-fire rate hikes. GDP growth should continue to decelerate in the coming quarters as still high inflation and the fallout from central bank rate hikes take hold. BSP will see both inflation and GDP data ahead of its policy meeting on 16 May.  Key events in Asia next week Source: Refinitiv, ING Read this article on THINK TagsEmerging Markets Asia Pacific Asia Markets Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Asia week ahead: RBA policy meeting plus regional trade data

Asia week ahead: RBA policy meeting plus regional trade data

ING Economics ING Economics 27.04.2023 17:04
Next week we'll get China activity data and regional inflation reports, plus a Reserve Bank of Australia meeting Source: Shutterstock Upcoming RBA policy meeting After pausing at its April meeting to gather more information and assess the impact of its tightening so far, the main point of note for the Reserve Bank of Australia (RBA) will have been the much lower inflation numbers in March than in February. Year-on-year inflation in March dropped from 6.8% to 6.3%, while the slower-moving quarterly series for the first quarter fell from 7.8% to 7.0%. Core inflation rates also fell or came in below expectations. These figures not only point to an extension of the pause but could also be viewed as raising the likelihood that 3.6% marked the peak in the cycle for cash rates. We would also not rule out there being some easing of rates before the end of this year, as by then we believe inflation will have fallen to a level that is only just above the upper bound of the RBA’s 2-3% inflation target. Trade figures and inflation from Korea Korea’s exports are expected to continue to decline in April and the downturn in exports will become widespread except for automobiles. Meanwhile, falling commodity prices and base effects should push down headline inflation. PMI data from China China will release its official PMIs on 30 April. We expect slightly slower monthly growth in the manufacturing PMI to 51.7 in April from 51.9 in March. The slight dip can be traced to slower export orders from the US and Europe. The non-manufacturing PMI should continue to improve to 59.0 in the month from 58.2 in March as real estate activities grew while retail sales have been fairly stable ahead of the Golden Week public holiday from 29 April to 3 May.  A similar trend should be recorded in Caixin’s manufacturing PMI and services PMI to be released on 4 and 5 May, respectively. Taiwan reports price data and economic activity figures Taiwan’s manufacturing PMI should continue to show a monthly contraction. The latest figure is expected to dip to 48.9 from 48.6. The slower deterioration can be attributed to a slight pickup in orders for new phone models. Meanwhile, falling industrial production likely put deflationary pressure on wholesale items more than on retail items. This will likely be the trend for Taiwan in the near term.  Thus, we expect CPI inflation to moderate to 2.25% in April from 2.35% in March while PPI should start to record a yearly contraction of 0.5% in April from a positive 0.5%YoY a month ago. Read next: Rates Spark: Waiting for that smoking gun| FXMAG.COM Inflation moderating somewhat in Indonesia and the Philippines Price pressures have been moderating in Indonesia and the Philippines with base effects also helping to push headline inflation lower. Indonesia’s headline inflation could head closer back to the central bank’s target and settle at 4.3%YoY while core inflation could be steady at 2.9%.  Meanwhile, headline inflation in the Philippines is also on the decline and we expect April inflation to dip to 6.9%YoY from 7.6% in the previous month. A slower inflation reading in the Philippines could open the door for the Bangko Sentral ng Pilipinas (BSP) to consider a pause at its May policy meeting.  Indonesia's first quarter GDP report Indonesia will release first quarter GDP data next week and forecast growth to settle at 4.4%YoY driven by solid household consumption topped off by a relatively strong export performance. PMI manufacturing remained in expansion mode for the first few months while retail sales managed to stabilise after a brief contraction in January with inflation easing.  Singapore retail sales Retail sales could revert to contraction, down by as much as 6%YoY given still elevated inflation and slowing growth momentum. Singapore recently reported disappointing first-quarter GDP numbers and retail sales likely reflected the downturn in growth.     Key events in Asia next week All time refers to Singapore time Source: Refinitiv, ING Read this article on THINK TagsAsia week ahead Asia Pacific Asia Markets Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Asia week ahead: RBA policy meeting plus regional trade data

Asia Morning Bites - 27.04.2023

ING Economics ING Economics 27.04.2023 12:33
EURUSD rises sharply, but Asian currencies more stable Source: shutterstock Global Macro and Markets Global Markets: After Tuesday’s weakness, US stocks fared slightly better, though it was still a mixed picture. And despite the NASDAQ staging a small increase, the S&P 500 was down again. Equity futures suggest a slight improvement today for both indices. Chinese stocks also halted their recent slide. The Hang Seng rose 0.71% from the previous day while the CSI 300 was still down but by less than 0.1%. Slightly improved sentiment helped 2Y US Treasury yields to rise, and they are now 3.951%, up 6.2bp from the previous day while the 10Y yield is 3.448%, after rising 4.9bp. The last 24 hours for EURUSD has been very volatile. This time yesterday, EURUSD was about 1.0977, but it rose sharply after midday heading as high as 1.1095 before pulling back to 1.1044 now. Ongoing bank concerns may be one reason for the USD’s weakness, as US regulators (according to newswires) are weighing a  downgrade to their assessment of First Republic Bank, though other sources mention debt ceiling concerns as the driver. The AUD did not respond positively to the ongoing improvement in inflation and has dropped back to just above 66 cents. Cable, in contrast, has followed the EUR higher and is now 1.2471 and the yen has also made gains. USDJPY is now down to 133.43.  Wednesday was mixed again for Asian FX, though most moves were quite modest. The THB  led the pack with a 0.52% gain on the day while the KRW held up the bottom of the pack with a 0.3% decline. USDCNY was not much changed. G-7 Macro:  There was only light news flow yesterday, which from the US contained a narrowing of the trade deficit, some worse-than-expected core goods orders, and some rising retail inventories. There’s nothing in here to make too big a deal over.  The rest of the G-7 was quiet. Today will deliver a barrage of European confidence measures. But the highlight is most probably the advance 1Q23 GDP release from the US. The consensus view is for a 1.9% annualized growth rate, down from 2.6% in 4Q22. Read next: Riksbank: Growing dissent hinders efforts to support the krona| FXMAG.COM What to look out for: US GDP and core PCE China industrial profits (27 April)  US GDP, core PCE, pending home sales and initial jobless claims (27 April) South Korea industrial production (28 April) Japan labour market data (28 April) Australia PPI (28 April) Taiwan GDP (28 April) US personal spending (28 April) Read this article on THINK TagsEmerging Markets Asia Pacific Asia Markets Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Issue on the US debt ceiling persists, Joe Biden goes back to the US

This week's calendar looks striking! US GDP, Bank of Japan rate decision, Sainsbury earnings and more

Michael Hewson Michael Hewson 24.04.2023 11:16
US Q1 GDP – 27/04 – having seen the US consumer recover strongly in January with a retail sales surge of 3.2%, the edge has come off a little in recent months as consumer spending slowed in February and March, by -0.2% and -1% respectively. The instability caused by the banking turmoil will also have affected economic output at the end of the quarter, although we probably won't know the full extent of that until we get later revisions. The strong labour market and resilience in wage growth seen in the first part of the quarter are likely to offer a strong personal consumption component. Expectations are for the US economy to slow slightly from 2.6% in Q4 to 2%, while personal consumption is expected to rebound strongly from the 1% seen in Q4. Bank of Japan rate decision – 28/04 – with the recent weakness in the Japanese yen, and it being the first meeting as central bank governor for Kazuo Ueda all eyes will be on the Bank of Japan this week to see whether Ueda lays out the ground for a possible tweak to the bank's current yield curve control policy. In comments earlier this month, Ueda was careful not to say too much that was different from his predecessor Kuroda. At his first press conference, Ueda stuck with the script of his predecessor by saying the current policy remained appropriate under current economic conditions.  With national core CPI in Japan currently at 3.8% and a 40-year high, it could be argued that a shift in policy is close, and could come by the end of Q2. On the flip side of that headline, CPI has slowed sharply from 4.3% in January to 3.2% in March, which is likely to offer encouragement to the doves, although the resilience of core prices, like elsewhere is a little concerning, and is likely to be a cause for concern.       Germany Q1 GDP – 28/04 – there is a distinct possibility that the German economy could slide into recession when the latest Q1 GDP numbers are released. Having contracted by -0.4% in Q4 we haven't seen a significant improvement in manufacturing PMIs over the quarter despite lower energy prices. If anything, economic activity has subsided with the March PMI sliding to 44.7 and its lowest level since 2020. Services sector activity has offered more encouragement with three readings above 50 over the quarter, although retail sales spending has been negative, sliding -0.3% and -0.4% in January and February.    Read next: This week the US Q1 GDP is released. On Friday, Bank of Japan may shock the markets tweaking its yield curve control policy| FXMAG.COM Associated British Foods H1 23 – 25/04 – seen some strong gains since the 10-year lows seen back in October last year, pushing to one-year highs back in February. The rebound in the share price has been long overdue but still remains below the levels we saw pre-pandemic. All of the retail sector has faced challenges over the past 3 years but ABF's diverse business model has seen the company decent numbers across all of its businesses. In February the Primark owner upgraded its full-year outlook on all of its businesses including Primark. Adjusted operating profit and earnings are expected to be broadly in line with the previous year, despite higher costs. Total sales in the Primark business are expected to be 16% ahead of the same period last year which was disrupted by the tail end of Omicron restrictions in the Netherlands and Austria. The operating profit margin is expected to be above 8%, compared to last year's H1 margin of 11.7%. UK sales are expected to rise by 15%, while European and US sales growth is also expected to improve, by 18% and 12% respectively.   Sainsbury FY 23 – 27/04 – despite the intense competition facing food retailers Sainsbury share price has been on a decent run since the record lows we saw back in October.  When Sainsbury reported just after Christmas Q3 total sales rose by 5.2%, with grocery seeing a rise of 5.6%. Christmas grocery sales saw an acceleration to 7.1%. On a like-for-like quarterly basis, sales rose by 5.9%, with the Argos business generating a decent uplift as shoppers eschewed the flakiness of a strike-ridden Royal Mail service, by doing their grocery and Christmas shopping all at once. Guidance for a full-year underlying profit before tax was kept unchanged at the upper end of the guidance range of £630m to £690m, despite concerns over price and margin pressures, which continue to act as headwinds. At the end of March according to the latest Kantar survey, Sainsbury saw 12-week sales growth of 6.9%, which while behind Aldi and Lidl compared very favourably to its other peers. At the end of January, it was revealed that Bestway Group had taken a 3.45% stake in the business and suggested it could take a larger stake. While this has helped push the share price to its highest levels in over a year the obstacles to a bid remain high in that Bestway would need to convince Sainsbury's other two big shareholders, the Qatar Investment Authority as well as Daniel Kretinsky's Vesa Investment fund that they have a credible plan to take the business forward. One upside is that Bestway's position as a wholesaler could offer synergies for Sainsbury in any future relationship, given that Tesco already owns Booker.          
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Asia week ahead: Bank of Japan’s first meeting with new governor

ING Economics ING Economics 20.04.2023 15:05
Next week’s data calendar features several economic activity data from Korea, inflation from Japan, Singapore and Australia, job and growth data from Taiwan plus PMI data from China. Japan's central bank will meet for the first time under new governor Kazuo Ueda Source: Shutterstock Inflationary pressures expected to ease in Australia March inflation will probably fall substantially on base effects alone, as March 2022 saw a 1.1% month-on-month increase following Russia’s invasion of Ukraine and the resulting spike in energy and agriculture prices. But we may also have some additional help from volatile food prices, which rose 1.0%MoM in February, but will probably ease back to something closer to 0.3-0.4% in March. Some additional decline in alcohol and tobacco prices may provide a further pushdown, and offset slightly higher gasoline prices for the month, resulting in a total CPI index increase of 0.3%MoM, and 5.9% year-on-year, down from 6.8% in February. This should be enough to at least put the Reserve Bank of Australia on hold at the April meeting. And may also be enough to draw a line under this entire rate-tightening cycle. Weak semiconductor demand could hinder Korea's economy We expect first quarter GDP to post a mild contraction of -0.1% quarter-on-quarter seasonally adjusted (vs -0.4% in 4Q22) mainly due to sluggish exports and investment. Weak global demand for semiconductors is a major reason behind this development. However, private consumption and construction are expected to hold up relatively well despite higher borrowing costs and a sharp decline in real estate, while inventory also contributes positively to growth. Read next: France: business outlook worsens| FXMAG.COM We believe March industrial production will contract again as we expect that chipmakers cut production further in March to unload inventory. Meanwhile, the increase in auto sector activity should partially offset the overall decline. Meanwhile, sentiment survey data is expected to improve as the Bank of Korea maintained its policy rates and market rates have fallen gently. China’s reopening, as well as the calming of financial market jitters triggered by the banking sector, have also probably helped to boost consumer and business sentiment. Ueda's first meeting as Bank of Japan governor The Bank of Japan (BoJ) will hold its monetary policy meeting on 27 and 28 April, the first time under Governor Kazuo Ueda, amid speculation about the timing of the monetary policy adjustment. We believe the BoJ will opt to keep all settings untouched given the recent banking sector jitters in the US and Europe. Yet, it is still worth watching how the new governor will shape his views on monetary policy and macroeconomic conditions. The BoJ will also release its latest macro outlook report. The key takeaway will be the inflation forecasts and whether the BoJ sees inflation undershooting its 2% target in the near future, which will give us more hints about the BoJ’s reaction to the CPI in coming meetings. Other than that, Tokyo CPI inflation is expected to cool down further in April while labour market conditions are expected to remain solid mainly led by the service sector. March industrial production is expected to slow on the back of the weak global demand for IT products. Gloomy economic outlook for Taiwan Taiwan will release its first quarter GDP report next Friday, and we expect a mild contraction of 0.5%YoY from a 0.41%YoY contraction in 4Q22. This should mean that Taiwan fell into a recession in the first quarter. The dip in semiconductor demand has hurt the economy in terms of production and exports. We will wait to see the negative impact on industrial production in March and we expect another contraction of around 8%YoY in March after an 8.7% contraction in February.  The unemployment rate in Taiwan should therefore edge up to 3.6% in March from 3.58% in February. All of this points to a gloomy outlook for Taiwan. However, there is a low base effect for the second quarter, which should help GDP growth turn positive again. This technical rebound may not imply improvements in global demand for semiconductors as the US economy is slowing. Upcoming PMI data from China China will release official manufacturing and non-manufacturing PMIs on 29 April. We expect services to grow faster than manufacturing activities as there was a short holiday in April, and tourism-related activities increased. Meanwhile, manufacturing activities could grow slightly slower in April due to the shorter month. Inflation to trend lower in Singapore Singapore reports March inflation next week and we expect both headline and core inflation to moderate from the previous month. Headline inflation could settle at 5.7%YoY from 6.3%, while core inflation could dip to 5.2% from 5.5%. Slowing inflation could be one of the reasons why the Monetary Authority of Singapore (MAS) opted to retain policy settings last week after growth disappointed. We can expect inflation to grind lower in the coming months but given that it remains well above the central bank’s target, the MAS may be limited in its ability to ease settings to help support sagging growth momentum.    Key events in Asia next week Source: Refinitiv, ING Read this article on THINK TagsEmerging Markets Asia week ahead Asia Pacific Asia Markets Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

Economic calendar by FXMAG.COM

Economic indicators release dates cumulated in one article.

Get to know when BoE, FED, Deutsche Bundesbank and other national banks will release important information.

Indicators which are released by banks:

Among others: CPI (Consumer Price Index), PPI (Producer Price Index), GDP (General Domestic Product)