Weekly Macro Note 3/16: Big Data Week, Technicals, Employment Still Soft

In this Weekly Macro Note, we dive into the latest in the data ahead, softening employment backdrop, valuations, technicals, and more. #MacroEdge

Big Data Week, Technicals, Employment Still Soft (@DonMiami3, MacroEdge Chief Economist)

Good Sunday evening MacroEdge Readers and Community, 

We'll have a shorter update for you this evening as the team is in California for the Roth Capital gathering, and there hasn't been much news or data since our last note. This week, the focus will be on the tone and policy actions of both the Federal Reserve and the Bank of Japan. Although both central banks are unlikely to shift their policy rates, they may provide new guidance on future policy actions in the coming months. The current forecast anticipates the Bank of Japan might raise rates again as soon as April, though I haven’t entirely ruled out next week. The Federal Reserve could resume rate cuts as early as their next meeting. Despite the earlier mention of a quiet data week, the week ahead is data-heavy, with several key reports due.

Monday 

> Retail Sales Data 

> NY Fed Mfg Data 

> NAHB Housing Market Index 

Tuesday 

> Germany ZEW Economic Index 

> Canadian Inflation YoY 

> US Housing Data (Permits, Construction, Starts, Actives, etc.) 

> Import/Export Prices YoY 

> Manufacturing Data (USA)

> Japanese Imports/Exports 

Wednesday

> EU Inflation Rate 

> Fed Interest Rate Decision/FOMC

> Brazil Interest Rate Decision 

> Japanese Interest Rate Decision 

Thursday 

> BoE Interest Rate Decision 

> Claims 

> Philly Fed Index

> Home Sales Data (USA)

> Japanese Inflation Rate YoY 

Friday 

> Fed Williams Speech