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US Monthly Budget Statement In Focus

At 18:00 GMT, the US Monthly Budget Statement (Feb) is expected to fall to $-216B against a reading of $49B in the prior month. This data represents the balance of the federal government’s income and spending. The February number has been negative and in the range of $-234B to $-185B since 2010, due to variation in payments and expenditures that fall during the month. If the reading comes in at or below expectations, it will be the biggest decline in the budget since February of 2014. USD pairs could experience volatility because of this data release.

Major data releases for the week:

On Tuesday, at 11:30 GMT, the UK Budget Report will be released.

At 12:30 GMT, US Consumer Price Index data will be released.

At 14:30 GMT, Bank of Canada Governor Poloz will give a speech titled “Today’s Labour Market and the Future of Work” at Queen’s University, in Ontario.

On Wednesday, at 07:00 GMT, German Consumer Price Index data will be released.

At 08:00 GMT, ECB President Draghi will speak at the ECB conference hosted by the Institute for Monetary and Financial Stability, in Frankfurt.

At 12:30 US Retail Sales data will be released.

On Thursday, at 08:30 GMT, the Swiss National Bank will release it Interest Rate Decision.

On Friday, at 10:00 GMT, Eurozone Consumer Price Index data will be released.

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