LOOKING AHEAD - Next Weeks Trading Calendar

What to look forward to this week:

 A relatively mixed trading week has ensued both on the JSE and across most global equity markets. The IMF revised its global growth forecast downwards as it highlighted the impact of trade wars on global output. Economic data releases out of some of the major financial centres have disappointed which has increased scepticism across the financial markets. Volatility in the markets has been relatively low despite these growth concerns. The positive impact of the fuel price reduction was reflected in the December South African inflation numbers which were released in Wednesday. However, for most SA retailers, December failed to live up to expectations in terms of sales, as reflected by the sales updates that have been released so far. The week ahead might offer some reprieve in terms of positive news, but we will have to wait and see. Below I have highlighted some of the key events and data that you can expect during the coming week.

• We are not expecting any significant economic data on Monday. In terms of earnings results, locally we are expecting Vivo Energy to release its quarterly results. The ECB president is scheduled to testify before the European Parliament at 4pm, which could potentially result in some volatility for the Euro and the US dollar.

• Another subdued trading session is expected on Tuesday, as the only significant data expected is Consumer Confidence data for the USA at 5pm. We are not expecting any data or earnings releases locally.

• Japan kicks off Wednesday with the release of Retail Sales data at 1.50am and Consumer Confidence numbers at 7am. We are expecting CPI data for Australia at 2.30am as well as for Germany at 9.45am. The United Kingdom will be in focus at 11.30am for the release of Net Lending to Individuals and Mortgage Approvals data. At 3.15pm, we are expecting the ADP Non-Farm Employment Change numbers from the USA, while at 5pm we expect Pending Home Sales and Crude Oil Inventories data. The US Fed is expected to announce its interest rate decision at 9pm that night, forecasts suggest the Fed will leave rates unchanged at 2.50%.

• On Thursday morning we expect South African Consumer Confidence data at 11.20am, while at 11.30am we expect Stats SA to release PPI data for the month of December. At 2pm, we are expecting SA Trade Balance data for the month of December. On the international front, China is expected to release its Manufacturing and Non-Manufacturing PMI numbers at 3am. We are expecting German Retail Sales data at 9am and Unemployment Change numbers at 10.55am. At midday, we are expecting preliminary GDP data for the Eurozone as well as its Unemployment Rate data. From the USA we are expecting Personal Spending, Personal Income and the weekly Initial Jobless Claims numbers at 3.30pm. In terms of local earnings results, ArcelorMittal South Africa and Avior Capital Markets are expected to release their earnings results.

• Another busy day is scheduled for Friday in terms of economic data. Japan starts off with the release of its Unemployment Rate numbers at 1.30am, followed by its Final Manufacturing PMI data at 2.30am. From China, we are expecting the Caixin Manufacturing PMI numbers. We are also expecting the same set of data from most of the countries in the Eurozone. At midday, we are anticipating Flash Estimate CPI numbers for the Eurozone. Friday is also jobs day which means the USA is expected to release its Non-Farm Payrolls numbers for the month of January, along with Average Hourly Earnings and Unemployment Rate data. At 4.45pm we are also expecting Final Manufacturing PMI data for the USA, followed shortly thereafter at 5pm by ISM Manufacturing PMI data.

We will be keeping tabs on the events in the markets. Check out our blog for market updates, insights from our GT247.com team, and our independent analysts. Not sure about a trade? Call the GT247.com Trading Desk on 087 940 6102 and bounce your idea off one of our dedicated traders.

Until next week, we wish you profitable trading!