This article provides an overview of significant events and milestones set to occur in the coming week. The week begins on a somber note with Monday’s International Holocaust Memorial Day, as world leaders convene in Poland to mark the 80th anniversary of the liberation of Auschwitz. Israeli Prime Minister Benjamin Netanyahu will attend the commemorative event, having been afforded protection from arrest by the Polish government under an International Criminal Court warrant related to allegations of war crimes. Auschwitz was the site of roughly 1.1 million murders during World War II, predominantly of Jews, alongside many Poles, Roma, and Soviet POWs.
Coinciding with these somber events, the Lunar New Year is celebrated on Wednesday, ushering in the year of the snake. China’s central bank has injected substantial short-term funds to mitigate potential cash shortages during the holiday. Expect to witness traffic congestion and crowded transport hubs, as many citizens travel to reunite with family beginning Tuesday.
Due to the observance of Australia Day on Monday, the flow of financial and economic news from Southeast Asia may be limited this week. However, important economic reports will be released, including inflation and GDP estimates for the fourth quarter from the US and Europe, along with numerous corporate earnings announcements, particularly from a quarter of S&P 500 companies. Additionally, key interest rate decisions from the US Federal Reserve and the European Central Bank are anticipated.
On Wall Street, discussions are ongoing regarding the Fed’s potential resumption of its rate-cutting agenda, amidst uncertainties surrounding economic policies. Expectedly, the Fed will maintain its benchmark rate between 4.25% and 4.5% this week after several cuts. In contrast, the European Central Bank, led by President Christine Lagarde, is likely to continue implementing rate cuts in response to soft growth and lessening price pressure within the Eurozone.
Several major companies are set to report earnings this week, including technology, pharmaceutical, and aerospace firms. Five of the most prominent tech companies will announce their quarterly results (with Alphabet and Nvidia reporting next month), while concerns remain regarding Apple’s performance, which might face disappointment, as noted by industry analysts.
Boeing is also bracing for reported losses, with expectations of a larger quarterly loss than before and its greatest annual loss since 2020, as it attempts to recover production of its 737 Max following a quality crisis and a protracted labor strike that impacted output.
In a contrasting tone, this week will also yield a dramatic announcement regarding the Doomsday Clock, which reveals the proximity of humanity to existential threats. However, the week offers a lighter moment with Groundhog Day, where a groundhog’s prediction may bring news of an early spring in North America. This event may encourage some to revisit the classic film featuring Bill Murray or check out the recent Bob Dylan biopic reviewed in various outlets.
Here’s what to anticipate in terms of economic and corporate reports for the week:
Monday
- Australia: Australia Day observed, financial markets closed.
- South Korea: Seollal (Lunar New Year) holiday, financial markets closed for four days.
- Earnings reports: AT&T Q4, Dr Martens Q3 update, Ryanair Q3, WR Berkley Q4.
Tuesday
- China: Lunar New Year’s Eve, financial markets closed.
- France: January consumer confidence data.
- UK: British Retail Consortium January Shop Price Index.
- Earnings reports: AG Barr trading update, Boeing Q4, General Motors Q4, Royal Caribbean Q4, among others.
Wednesday
- Data releases: Australia CPI inflation, Brazil interest rate announcement, Canada interest rate announcement, US Federal Open Market Committee interest rate announcement.
- Earnings reports: ASML Q4, Meta Q4, Microsoft Q2, and Tesla Q4 among others.
Thursday
- Events: Asian Development Bank Institute holds an online conference.
- Data releases: EU interest rate announcement, Q4 GDP estimates from various countries, along with numerous corporate earnings reports including Apple Q1.
Friday
- Significant dates: Thames Water’s restructuring plan implementation, EU consumer expectations survey.
- Data releases: Nationwide House Price Index, US personal income and outlays data, and various company earnings reports.
World Events Overview
Looking at other noteworthy events during the week:
Monday
- International Holocaust Memorial Day.
- Paris Fashion Week Haute Couture opening.
- Auschwitz-Birkenau State Museum ceremony.
- Changes in UK family court reporting regulations.
Tuesday
- Start of Spring Festival in China.
- Omagh Bombing Inquiry Hearings in Northern Ireland.
- Announcement from the Bulletin of the Atomic Scientists regarding the Doomsday Clock.
Wednesday
- Lunar New Year celebrations.
- UK Treasury committee appearance by the Bank of England governor.
Thursday
- Quarterly UK crime statistics released.
Friday
- Expiration of EU economic sanctions on Russia.
- Opening match of the Six Nations rugby tournament in France.
- Implementation of Brexit-related regulations in the UK.
Saturday
- India’s budget speech.
Sunday
- End of the alcohol duty freeze affecting the UK hospitality sector.
photo credit: www.ft.com
