Upcoming Economic Calendar starting tomorrow (Patreon)

Some interesting items this week incl Grayscale Lawsuit vs SEC and some key economic data.  We shall see the tone of the fed and also Labor #'s will be key.  South Korea just missed their GDP # also. Things are weakening.

This week brings two important releases in particular: the U.S. JOLTs (Job Openings and Labor Turnover Survey) and Non Farm Payrolls data coming in on Wednesday and Friday morning, respectively. 

The reason for the data’s relevance is the historically tight labor market conditions currently in place, with nearly two job openings for every one unemployed person in the U.S. labor market. The historically tight labor market is one of the conditions that gives the Federal Reserve the go-ahead to continue with their tightening regime. 

The current forecast for Wednesday’s JOLTs release is 10.5 million. A beat to the upside is likely to place pressure on markets, as a resilient labor market would again reinforce the incumbent monetary tightening regime to continue.

March 7, 2023

10:00 a.m. EST, Fed Chairman Powell Testimony, Semiannual Monetary Policy Report to the Congress.

9:30 a.m. EST, Oral arguments in Grayscale’s lawsuit against the SEC.

March 8, 2023

8:30 a.m. EST, U.S. Balance of Trade, Forecast: -$68.9 billion.

10:00 a.m. EST, U.S. JOLTs (Job Openings and Labor Turnover Survey) Job Openings, Forecast: 10.5 million.

10:00 a.m. EST, Fed Chairman Powell Testimony, Semiannual Monetary Policy Report to the Congress.

March 9, 2023

10:00 a.m. EST, Vice Chair for Supervisor of the Federal Reserve speaking on Crypto to the Peterson Institute.

Bank of Japan Interest Rate Decision, Forecast: -0.1%, Prior: -0.1%.

March 10, 2023

2:00 a.m. EST, U.K. Month-over-Month GDP data release, Forecast: 0.1%, Prior: -0.5%.

8:30 a.m. EST, U.S. Non Farm Payrolls data release, Forecast: 200,000; Prior, 517,000.