Weekly Macroeconomic Highlights: February 10—February 14

The second week of February was fairly uneventful, with attention centered on US inflation and retail sales data, along with speeches from key global economic leaders: Fed Chairman Jerome Powell, ECB President Christine Lagarde, and Bank of England Governor Andrew Bailey.

Monday. February 10

Eurozone :
● At 2:00 p.m. GMT, the President of the European Central Bank, Christine Lagarde, delivered a speech.

Tuesday. February 11

Great Britain :
● At 12:15 p.m. GMT, the Governor of the Bank of England Andrew Bailey also spoke.

United States:
● At 3:00 p.m. GMT, Fed Chairman Jerome Powell delivered his speech.
● At 9:30 p.m. GMT, the American Petroleum Institute (API) published its weekly US crude oil inventory report, demonstrating a rise of 9.043 million barrels, up from the previous increase of 5.025 million barrels.

Wednesday. February 12

United States:
● At 1:30 p.m. GMT, the January inflation report was released, showing the Core Consumer Price Index at 0.4% month-over-month (up from 0.2%) and 3.3% year-over-year (up from 3.2%). The overall Consumer Price Index rose from 0.4% to 0.5% month-over-month and from 2.9% to 3.0% year-over-year.
● At 3:00 p.m. GMT, Fed Chairman Jerome Powell delivered a speech.
● At 3:30 p.m. GMT, the US Department of Energy (EIA) published crude oil inventory data, reporting an increase of 4.070 million barrels compared to the previous rise of 8.664 million barrels.

Thursday. February 13

Great Britain:
● At 7:00 a.m. GMT, the fourth-quarter GDP report was released, showing a quarterly economic growth rate of 0.1%, up from the previous 0.0%. On a monthly basis, the economy expanded by 0.4% in December, compared to 0.1% previously.

Germany:
● At 7:00 a.m. GMT, the January inflation data was released, showing a monthly consumer price index of -0.2%, down from 0.5% in the previous period, while the annual rate rose from 2.3% to 2.6%.

United States:
● At 1:30 p.m. GMT, the weekly report on initial jobless claims was released, showing 213,000 claims compared to 220,000 in the previous period. At the same time, the January producer price index (PPI) was published, coming in at 0.4% month-over-month, down from 0.5% previously.

Friday. February 14

United States:
● The January retail sales report is scheduled for release at 1:30 p.m. GMT.
● The core retail sales index is -0.3%, down from the previous 0.4%.