Martes Feb 1 2022 15:28
15 min
As 2022 rolls on, so do the big economic events. We’ve profiled some of the big ones below in our February 2022 preview.
OPEC-JMMC meetings – Wednesday February 2nd
February’s OPEC+ meeting should have much the same tone as January’s. Expect to see the cartel agree to pump a further 400,000 bpd of crude in March. That said, the near $90 oil price (at the time of writing) and tight capacity for smaller members may prompt a leftfield strategic rethink.
Bank of England rate statement – Thursday February 3rd
Some have called the Bank of England slow to act with inflation running hot in the UK’s economy. Word on the street is Governor Bailey and the Monetary Policy Committee are poised to hike rates a further 25 basis points on this meeting.
European Central Bank rate statement – Thursday February 3rd
The BoE might be planning a rate hike, but its contemporaries in Brussels are not planning any such moves this year. The European Central Bank is sticking to its guns, even as inflation pressure builds, so instead we’re predicting a fairly mundane rate statement from the ECB this February.
US nonfarm payrolls – Friday February 4th
January’s job market numbers are in focus today with the release of the latest nonfarm payrolls. Labour markets have disappointed for two consecutive months stateside. The Fed and US will be watching closely to see if things picked up in January.
US CPI – Thursday February 10th
US consumer prices jumped at their highest level in four decades in December, as reported in January’s CPI reading. We know inflation is running hot, and we know the Fed is planning fairly aggressive rate hikes to cope. Perhaps February’s CPI report will provide the Fed with a further kick if inflation continues to burn.
US PPI – Tuesday February 15th
While consumer goods costs jumped massively in December, the month saw PPI rise at a modest rate of 0.2%. That said, US PPI is up 9.7% across the year, showing that something has to be done to help cool inflation.
FOMC meeting minutes – Wednesday February 16th
What is that? Well, the talk is rate hikes. The Fed has taken a hawkish pivot in recent months. The release of the FOMC meeting minutes for January will let us get under the Fed’s hood for a clearer view on its policymaking decisions ahead of any further rate increases.
EU Flash PMI data – Monday February 21st
European productivity is in the spotlight this month too with another batch of PMI readings. Markets and the ECB will be hoping to carry over some momentum from January. The IHS Markit Composite PMI reading for last month pushed the index to a 5-month high, the PMIs coming in at 58.7.
RBNZ rate statement – Wednesday February 23rd
Forex traders have priced in a further rake hike from the Reserve Bank of New Zealand this month. The RBNZA was one of the first central banks to hike rates and has already pushed it up to 0.75%. A further increase could be on the way, with economic observers expecting a rates to hit 2.5% by 2023.
US Core PCE price index – Friday February 25th
The Fed’s favourite inflation indicator rounds off our preview of what to watch in February. PCE inflation reached a 40-year high last month, at 5.8%, which goes someway towards explaining why the Federal Reserve has shaken off its dove’s feathers and adopted a hawkish stance. Let’s see how hot inflation is running in January with this print.
Date | Time (GMT) | Asset | Event |
Tue 01-Feb | 3:30am | AUD | Cash Rate |
3:30am | AUD | RBA Rate Statement | |
1:30pm | CAD | GDP m/m | |
3:00pm | USD | ISM Manufacturing PMI | |
3:00pm | USD | JOLTS Job Openings | |
9:45pm | NZD | Employment Change q/q | |
9:45pm | NZD | Unemployment Rate | |
Wed 02-Feb | 1:30am | AUD | RBA Gov Lowe Speaks |
8:00am | EUR | Spanish Unemployment Change | |
All Day | All | OPEC-JMMC Meetings | |
1:15pm | USD | ADP Non-Farm Employment Change | |
3:30pm | USD | Crude Oil Inventories | |
8:00pm | CAD | BOC Gov Macklem Speaks | |
Thu 03-Feb | 12:00pm | GBP | Asset Purchase Facility |
12:00pm | GBP | BOE Monetary Policy Report | |
12:00pm | GBP | MPC Asset Purchase Facility Votes | |
12:00pm | GBP | MPC Official Bank Rate Votes | |
12:00pm | GBP | Monetary Policy Summary | |
12:00pm | GBP | Official Bank Rate | |
12:30pm | GBP | BOE Gov Bailey Speaks | |
12:45pm | EUR | Main Refinancing Rate | |
12:45pm | EUR | Monetary Policy Statement | |
1:30pm | EUR | ECB Press Conference | |
1:30pm | USD | Unemployment Claims | |
3:00pm | USD | ISM Services PMI | |
Fri 04-Feb | 12:30am | AUD | RBA Monetary Policy Statement |
12:15pm | GBP | MPC Member Broadbent Speaks | |
1:30pm | CAD | Employment Change | |
1:30pm | CAD | Unemployment Rate | |
1:30pm | USD | Average Hourly Earnings m/m | |
1:30pm | USD | Non-Farm Employment Change | |
1:30pm | USD | Unemployment Rate | |
3:00pm | CAD | Ivey PMI | |
Wed 09-Feb | 2:00am | NZD | Inflation Expectations q/q |
3:30pm | USD | Crude Oil Inventories | |
6:01pm | USD | 10-y Bond Auction | |
Thu 10-Feb | 2:00am | CNY | Retail Sales y/y |
10:00am | EUR | EU Economic Forecasts | |
1:30pm | USD | CPI m/m | |
1:30pm | USD | Core CPI m/m | |
1:30pm | USD | Unemployment Claims | |
6:01pm | USD | 30-y Bond Auction | |
Fri 11-Feb | 7:00am | GBP | Prelim GDP q/q |
3:00pm | USD | Prelim UoM Consumer Sentiment | |
Tue 15-Feb | 12:30am | AUD | Monetary Policy Meeting Minutes |
1:30pm | USD | PPI m/m | |
1:30pm | USD | Core PPI m/m | |
1:30pm | USD | Empire State Manufacturing Index | |
Wed 16-Feb | 9:30am | GBP | CPI y/y |
1:30pm | CAD | CPI m/m | |
1:30pm | CAD | Common CPI y/y | |
1:30pm | CAD | Median CPI y/y | |
1:30pm | CAD | Trimmed CPI y/y | |
1:30pm | USD | Core Retail Sales m/m | |
1:30pm | USD | Retail Sales m/m | |
2:15pm | USD | Industrial Production m/m | |
3:30pm | USD | Crude Oil Inventories | |
7:00pm | USD | FOMC Meeting Minutes | |
Thu 17-Feb | 12:30am | AUD | Employment Change |
12:30am | AUD | Unemployment Rate | |
10:00am | EUR | ZEW Economic Sentiment | |
10:00am | EUR | German ZEW Economic Sentiment | |
1:30pm | USD | Philly Fed Manufacturing Index | |
1:30pm | USD | Unemployment Claims | |
Fri 18-Feb | 7:00am | GBP | Retail Sales m/m |
1:30pm | CAD | Core Retail Sales m/m | |
1:30pm | CAD | Retail Sales m/m | |
3:00pm | USD | Existing Home Sales | |
Mon 21-Feb | 8:15am | EUR | French Flash Services PMI |
8:30am | EUR | German Flash Manufacturing PMI | |
8:30am | EUR | German Flash Services PMI | |
9:30am | GBP | Flash Manufacturing PMI | |
9:30am | GBP | Flash Services PMI | |
Tue 22-Feb | 2:45pm | USD | Flash Manufacturing PMI |
2:45pm | USD | Flash Services PMI | |
3:00pm | USD | CB Consumer Confidence | |
Wed 23-Feb | 12:30am | AUD | Wage Price Index q/q |
1:00am | NZD | Official Cash Rate | |
1:00am | NZD | RBNZ Monetary Policy Statement | |
1:00am | NZD | RBNZ Rate Statement | |
2:00am | NZD | RBNZ Press Conference | |
9:00am | EUR | German ifo Business Climate | |
Tentative | GBP | Monetary Policy Report Hearings | |
Thu 24-Feb | 8:00am | CHF | KOF Economic Barometer |
1:30pm | USD | Prelim GDP q/q | |
1:30pm | USD | Unemployment Claims | |
4:00pm | USD | Crude Oil Inventories | |
Fri 25-Feb | 1:30pm | USD | Core PCE Price Index m/m |
1:30pm | USD | Core Durable Goods Orders m/m | |
1:30pm | USD | Durable Goods Orders m/m | |
3:00pm | USD | Pending Home Sales m/m | |
USD | Revised UoM Consumer Sentiment | ||
Mon 28-Feb | 2:45pm | USD | Chicago PMI |