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FED meeting and press conference (February 1st at 19:00 GMT and 19:30 GMT)
The US Federal Open Market Committee of the U.S Federal Reserve will conclude its 2-day meeting to decide on interest rates. The current rate is 4.50% after the bank hiked rates by 50 basis points in December. Most analysts expect a 25 basis point increase to 4.75% this month.
Possible Influence: Volatile US Dollar, Stocks, and Commodities
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OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting (February 1st)
OPEC+ Joint Ministerial Monitoring Committee will hold a meeting on February 1st. Its current deal is to cut production by 2 million barrels per day. It is possible that the JMMC may recommend further cuts at this meeting.
Possible Influence: Volatile Oil, Gasoline, and Natural Gas
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US ISM Manufacturing PMI (January) (February 1st at 15:00 GMT)
December's ISM Manufacturing PMI printed at 48.4. The consensus forecast for January is 48.
Possible influence: Volatile US Dollar, Gold and US Stocks
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Bank of England Meeting (February 2nd at 12:00 GMT)
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 3.5%. It is expected to raise interest rates 50 basis points to 4%.
Possible Influence: Volatile British Pound and British Stocks
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European Central Bank Meeting (February 2nd at 13:15 GMT)
The European Central Bank will meet to discuss interest rates. They are currently 2.5% and forecast to be increased to 3%.
Possible Influence: Volatile Euro and European Stocks
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U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (January) (February 3rd at 13:30 GMT)
The Unemployment rate for December was 3.5%. It is expected to rise to 3.6% for January. Non-Farm Payrolls are expected to fall to 185,000 for January, lower than December’s figure of 223,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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European Embargo on Russian Oil Derivatives (February 5th)
The EU’s ban on Russian petroleum products (part of June’s 6th round of sanctions) comes into effect on February 5th. This is different than the EU’s ban on Russian crude oil, which cut off 90% of Russian crude oil imports on December 5th, 2023.
Possible Influence: Volatile Oil, Gasoline, and Natural Gas
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Royal Bank of Australia Interest Rate decision (February 7th at 03:30 GMT)
The RBA will meet to decide on interest rates. The current rate is 3.10%.
Possible Influence: Volatile Australian Dollar
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Inflation data in US (January) (February 14th at 13:30 GMT)
Core CPI (excluding food and energy) was 5.7%, Year-over-Year in December. January’s Core CPI is expected to fall to 5.5%, Year-over-Year. Top-line CPI for December came in at 6.5%, Year-over-Year and is forecast to drop to 6.3%, Year-over-Year, in January.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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Turkish Gas Summit (February 14th and 15th)
Turkey will host suppliers of natural gas from the Middle East, Mediterranean, Caspian and Middle Asia with consumer countries from Europe.
Possible Influence: Volatile Oil, Gasoline, and Natural Gas
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Retail Sales in US (January) (February 15th at 13:30 GMT)
Retail Sales fell 1.1%, Month-over-Month, in December. Retail Sales for January are expected to drop 0.6%, Month-over-Month.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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United States GDP, Second Reading (4th Quarter) (February 23rd at 13:30 GMT)
The final print of the U.S. GDP for the 3rd Quarter came in at 3.2%. The first reading on the U.S. GDP for the 4th Quarter was 2.9%, Year-over-Year. The second reading of the U.S. 4th quarter GDP is expected on February 26th and is forecast to be revised down to 2.8%, Quarter-over-Quarter.
Possible Influence: Volatile US Dollar, Gold and US Stocks
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Company Earnings Season (February)
4th Quarter earnings season continues in February. Over 80 American listed stocks on Fortrade’s platform will be reporting their financials. These include: Facebook, Merck, Ford, Apple, Google, Amazon, Royal Caribbean Cruises, Disney, PayPal, Coca-Cola, Applied Materials, Walmart, Coinbase, Virgin Galactic, NVIDIA, eBay, Moderna, Alibaba, HP, and Rivian.
Possible Influence: Volatile US Stocks
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Ongoing Tension between the United States, Russia, Europe, and Ukraine (February)
The War in Ukraine is coming up on its one-year anniversary on February 24th. Ukraine will host EU President von der Leyen at a summit to be held on February 3rd in Kiev. The latest aid package from the EU is worth $18 billion, and began in January.
Possible Influence: Volatile US Dollar, Natural Gas, Wheat, Volatile Russian Ruble, Gold, Oil, Palladium, and US Stocks