Presidential elections in Cyprus
A successor to the extremely unpopular Dimitris Christofias will need to jump immediately into bailout talks with EU leaders. The island nation off Turkey’s southern coast needs a bailout (estimates currently suggest around €17 billion, but this number is likely to move once negotiations begin) to shore up its economy and recapitalize its banks, which have been crushed under the weight of toxic Greek debt holdings. Which should be telling—the troubles of a country that’s the economic satellite of Greece aren’t likely to carry lasting global economic ripples.
Presidential and legislative elections in Ecuador
Presidents’ Day in the United States
Most major US markets will be closed in honor of the holiday.
The Bank of Japan and Reserve Bank of Australia release their meeting minutes
Expect some close scrutiny into both central banks’ minutes given recent events in the countries—particularly in Japan given Prime Minister Shinzo Abe’s attempts to sway the bank into greater easing recently.
Mexico Q4 GDP
Germany February ZEW survey
The monthly survey of 350 financial experts is supposed to detail a breakdown of analysts optimistic about economic development in Germany over the next six months versus those who are pessimistic.
US February housing market index
New Zealand Q4 PPI
Japan December All Industry Index
Brazil December retail sales
Poland’s parliament debates adopting the euro
An EU member since 2004, the country will focus its attention the next few weeks on ratifying the European Fiscal Compact and a possible constitutional amendment to replace the zloty with the euro. Liberal-conservative Prime Minister Donald Tusk and his Civic Platform party are the leading proponents for the change, arguing a switch to the euro would increase economic competitiveness with the rest of Europe. However, right-wing nationalist opposition party leader Jaroslaw Kaczyski and his Law and Justice party strongly oppose a change, arguing ratifying the fiscal pact and adopting the euro would give Brussels too much say in domestic fiscal and budgetary issues.
Germany Final January CPI and PPI
France February business climate indicator and January CPI
UK BoE MPC minutes and January labor market report
US FOMC Minutes and January PPI
Japan January trade balance
China February Markit Flash PMI manufacturing index
Switzerland January trade balance
Eurozone, Germany and France February Flash composite PMIs
US February Flash PMI manufacturing Index, January CPI, January existing home sales and January Leading Economic Index
Italy final January CPI
Germany February lfo business sentiment survey
Italy February consumer confidence
Canada January CPI and December retail sales