The whole world is devastated by the ruthless war in Ukraine, but Russia has no intention of backing off. The horrifying missile attacks are taking thousands of Ukrainian civilians’ lives. Every country is tormented about what is going to happen if Russia doesn’t stop and how dreadful it is impacting the global financial system. Already the world’s oil price is spiking high and the forex market has been seeing this conflict’s impact drastically in the last week of February 2022.
Feb 21
German Flash Manufacturing PMI (Europe)
The headline Flash Germany PMI Composite Output Index registered 56.2 in February, up from January’s 53.8 and pointing to the strongest growth in private sector activity for six months.
FEB 22
Flash Manufacturing PMI (USA)
Rising from an 18-month low of 51.1 in January to 56.0 in February, the seasonally adjusted IHS Markit Flash US Composite PMI Output Index indicated a substantial expansion in private sector output that outpaced the long-run series average.
FEB 23
Wage Price Index q/q (Australia)
Key statistics: In December quarter 2021 the seasonally adjusted WPI: • Rose 0.7% this quarter and 2.3% over the year. • The private sector and the public sector both rose 0.7%.
RBNZ Monetary Policy Statement (New Zealand)
It provides valuable insight into the bank’s view of economic conditions and inflation – The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 1 percent.
Monetary Policy Report Hearings (London)
BOE MPC member Bailey speaks about the U.K. economy facing two-sided risks. risk that inflation falls quicker than expected. The goal is to bring inflation back to target.
FEB 24
Crude Oil Inventories (USA)
U.S. eyes release from oil reserves as prices rise in Ukraine. U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending February 18, 2022. Refineries operated at 87.4% of their operable capacity last week.
Special Military Operation In Ukraine (All)
Putin said, “Circumstances require us to take decisive and immediate action. In this regard, in accordance with Article 51, Part 7 of the UN Charter, with the sanction of the Federation Council and in pursuance of the friendship treaties ratified by the Federal Assembly and mutual assistance with the DNR and LNR, I have decided to conduct a special military operation.”
Global Markets Unravel (All)
As Russian President Putin announces a “special military operation” in Ukraine and warns of “consequences” for foreign interference, global markets are tormenting.
EUR/USD slumps(All)
EUR/USD bears attack 1.1200, down 0.75% intraday near 1.1210 as Russian forces play their role to shake global markets, as already feared by the West.
Prelim GDP q/q (USA)
Real gross domestic product (GDP) increased at an annual rate of 7.0 percent in the fourth quarter of 2021, according to the “second” estimate released by the Bureau of Economic Analysis.
FEB 25
ECB President Lagarde Speaks (Europe)
As head of the ECB, which controls short-term interest rates, she has more influence over the euro’s value than any other person.
FOMC Member Waller Speaks (USA)
Federal Reserve FOMC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.
Core PCE Price Index m/m (USA)
This differs from Core CPI in that it only measures goods and services targeted towards and consumed by individuals. Prices are weighted according to total expenditure per item which gives important insights into consumer spending behavior.
UPCOMING EVENTS
March 1
- Cash Rate (Australia)
- GDP m/m (Canada)
- ISM Manufacturing PMI (USA)
March 2
- GDP q/q (Australia)
- OPEC-JMMC Meetings (All)
- ADP Non-Farm Employment Change (USA)
- BOC Rate Statement (Canada)
March 3
ISM Services PMI (USA)
March 4
Unemployment Rate (USA)
