U.S. earnings are set to keep people busy this week, including Goldman Sachs and Morgan Stanley. Two other events are likely to grab people’s attention as well. The Doha oil freeze summit begins this Sunday at 7:00 a.m. GMT, and the market will surely try to keep a steady bead on its outcome. Twelve out of 13 OPEC members are slated to attend the event, as well as 7 non-OPEC members including Russia, the world’s largest oil producer. However, while oil bulls seems to be betting on a potential production freeze pact, chances are pretty slim that anything significant will come out of it. The ECB’s monetary policy decision (Thursday, 11:45 a.m.) should be of note as well, though given Draghi’s recent bazooka this could also be a non-event. That said, the following presser should give more than a few clues as to the central bank’s thinking going forward.
Here’s what else you should look out for (note: all times GMT):
Monday
Monday will be very light as far as indicators or reports are concerned, though three Federal Reserve members are slated to speak that day. New York Fed president Bill Dudley is slated to speak at 12:30 p.m., while Minneapolis Fed president Neel Kashkari and Boston Fed president Eric Rosengren are scheduled to speak at 4:30 p.m. and 11:00 p.m., respectively. Morgan Stanley opens up its books as well.
Tuesday
Tuesday morning will see the publishing of the Reserve Bank of Australia’s minutes at 1:30 a.m., the Eurozone current account at 8:00 a.m., and Germany’s ZEW surveys at 9:00 a.m. The afternoon meanwhile will have U.S. housing starts at 12:30 p.m., a speech from RBA governor Glenn Stevens at 1:30 p.m., global dairy prices at 2:00 p.m., and a speech from the BoE governor Mark Carney at 2:35 p.m. Goldman Sachs reveals what market volatility did to its bottom line.
Wednesday
Wednesday kicks off with the U.K.’s jobless claims at 8:30 a.m., followed by U.S. existing home sales at 2:00 p.m. Capping off the day will be BoC governor Stephen Poloz, who’ll be speaking at 8:15 p.m.
Thursday
British retail sales are set to come in at 8:30 a.m., while the aforementioned ECB monetary policy decision is slated to roll in at 11:45 p.m. Draghi’s presser is scheduled for 12:30 p.m., the same time as U.S. initial jobless claims.
Friday
Friday begins with a slew of PMI data, starting with Japan’s at 1:35 a.m. and ending with the Eurozone’s at 8:00 a.m. At 12:30 p.m., we’ll see Canada’s retail sales and CPI data as well as the BoC’s own core inflation estimates. Wrapping up the week will be the Baker Hughes rig count at 5:00 p.m.
Photo: Pete Markham