Economic Calendar: ISM Services Index And ADP Employment Report in Focus

Today, we will receive several interesting and significant macroeconomic data points. Investors will primarily focus on the release of the ISM Services Index and the ADP employment report from the U.S. labor market.

The consensus for the ADP report does not indicate a significant change in the recent trend. Employment in February is expected to increase by 140,000. However, given the volatile and uncertain policies of Donald Trump, leading indicators may prove to be more interesting. One such report today is the ISM Services Index.

Following Monday’s weaker-than-expected ISM Manufacturing reading and a lower PMI Services report, the ISM Services Index could be particularly noteworthy.

Detailed calendar of the day:

07:30 AM GMT, Switzerland – Inflation Data for February:

• CPI: previous 0.4% YoY;
• CPI: forecast 0.5% MoM; previous -0.1% MoM;

08:15 AM GMT, Spain – PMI Data for February:

• HCOB Spain Services PMI: forecast 55.4; previous 54.9;

08:45 AM GMT, Italy – PMI Data for February:

• HCOB Italy Services PMI: forecast 50.9; previous 50.4;
• HCOB Italy Composite PMI: previous 49.7;

08:50 AM GMT, France – PMI Data for February:

• HCOB France Services PMI: forecast 44.5; previous 48.2;
• HCOB France Composite PMI: forecast 44.5; previous 47.6;

08:55 AM GMT, Germany – PMI Data for February:

• HCOB Germany Services PMI: forecast 52.2; previous 52.5;
• HCOB Germany Composite PMI: forecast 51.0; previous 50.5;

09:00 AM GMT, Euro Zone – PMI Data for February:

• HCOB Eurozone Services PMI: forecast 50.7; previous 51.3;
• HCOB Eurozone Composite PMI: forecast 50.2; previous 50.2;

09:30 AM GMT, United Kingdom – PMI Data for February:

• S&P Global Composite PMI: forecast 50.5; previous 50.6;
• S&P Global Services PMI: forecast 51.1; previous 50.8;

01:15 PM GMT, United States – Employment Data for February:

• ADP Nonfarm Employment Change: forecast 141K; previous 183K;

02:30 PM GMT, United Kingdom – BoE MPC Member Pill Speaks

02:30 PM GMT, United Kingdom – BoE Gov Bailey Speaks

02:45 PM GMT, United States – PMI Data for February:

• S&P Global Services PMI: forecast 49.7; previous 52.9;
• S&P Global Composite PMI: forecast 50.4; previous 52.7;

03:00 PM GMT, United States – Durable Goods for January:

• Durables Excluding Defense: previous 3.5% MoM;
• Durables Excluding Transport: previous 0.0% MoM;
• Factory Orders: forecast 1.7% MoM; previous -0.9% MoM;
• Factory orders ex transportation: previous 0.3% MoM;

03:00 PM GMT, United States – ISM Data for February:

• ISM Non-Manufacturing PMI: forecast 52.5; previous 52.8;
• ISM Non-Manufacturing Business Activity: previous 54.5;
• ISM Non-Manufacturing Employment: previous 52.3;
• ISM Non-Manufacturing New Orders: previous 51.3;
• ISM Non-Manufacturing Prices: previous 60.4;

03:30 PM GMT, United States – EIA Data:

• Crude Oil Inventories: forecast 0.600M; previous -2.332M;
• Gasoline Inventories: forecast 0.130M; previous 0.369M;
• EIA Weekly Distillates Stocks: forecast 0.870M; previous 3.908M;

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