UK
A slow start to the week for the UK in terms of economic announcements starts with the Final Manufacturing PMIs being released on Monday, followed by the 30-year Bond auction on Tuesday. Wednesday sees the UKs Final Services PMI, but the highlight of the week arrives on Thursday when the Monetary Policy Committee meet. The Bank of England will first outline the Asset Purchase facility, which is the total amount of money the BOE will create and use to purchase assets in the open market. Then the Bank of England will release its Monetary Policy Report, along with the Monetary Policy Summary. From this we will be able to see how the MPC voted on Asset Purchase Facility numbers, and how they voted on the Official Bank Rate. Again, like previous weeks, with inflation being such a prominent issue at the moment, the importance of how the MPC votes on interest rates cannot be understated.
US
A interesting start to the week for the US sees Mondays release of US Final and ISM Manufacturing PMIs, followed by month-to-month Construction Spending figures, and the Loan Office survey. Tuesday sees month-to-month Factory Orders numbers, along with the release of the TIPPs Economic Optimism Index. Wednesday is another big day for the US with multiple announcements. The US starts with ADP (NASDAQ:ADP) Non-Farm Employment Change Estimates to be released, followed by Final/ISM Services PMIs, and Crude Oil Inventory numbers to finish. The highlight of the week comes at the end however, as Friday gives us not only the month-to-month Average Hourly Earnings results, but also the US Unemployment Rate.
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