Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Monday morning throws up a quiet schedule with the highlight being the publication of the German Ifo business climate at 0900GMT. The only event scheduled in the US is the release of the Dallas Fed manufacturing index at 1530GMT.
Ifo business climate seen higher
The Ifo business climate indicator declined in January to 90.1, the lowest level since July. Both expectations and the current conditions index fell in January, signalling that the second wave of Covid-19 led a halt of recovery. In February, markets are looking for a small uptick of business climate to 90.4. The current conditions index eased to 89.0 in January and markets expect the indicator to fall further to 88.9 in February. Expectations are projected to rise to 91.6 in February after slipping to 91.1 in the previous month. Similar survey evidence is in line with market forecasts. The ZEW current conditions index deteriorated slightly, while expectations rose sharply.
Source: Ifo Institute
Dallas Fed manufacturing index fell in January
The general business activity index of the Dallas Fed manufacturing outlook survey fell for the third consecutive month in January, slipping to a six-month low of 7.0. Nevertheless, the index remains positive despite the recent decline. Other survey evidence provides a mixed picture. While the Philadelphia Fed manufacturing index fell in February, the Empire State manufacturing index rose substantially.
The main events to look out for include speeches by ECB's Christine Lagarde and Fed's Michelle Bowman.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.