Week Ahead-German vote, US PCE, central bank events lead
Feb 24 (Reuters) - The week ahead features an epoch-making German election result, the Federal Reserve's preferred U.S. inflation gauge, and a meeting of finance ministers and central bank governors from the Group of 20 major economies. Geopolitics and trade tensions will remain in focus.
Exit polls show that Germany's conservatives won the national election on Sunday. This will be a major factor in risk appetite to begin the week as a viable centrist coalition will be well-received by markets.
It is a quiet week for Eurozone data, with the final reading of core inflation and the European Central Bank's consumer inflation expectations. But Germany has a busy week with Ifo, the final reading of GDP, consumer confidence, retail sales, and CPI. Fitch Ratings will review Germany's credit rating on Friday.
Scant UK data ahead, with just Monetary Policy Report Hearings on Tuesday. Bank of England officials Lombardelli, Ramsden, Dhingra, and Pill are all scheduled to speak. Fitch Ratings will also review its UK credit rating on Friday.
U.S. data is stacked, starting with consumer confidence, then new home sales, weekly jobs, durable goods, GDP 2nd estimate, followed by Friday's core PCE price index, personal consumption, and Chicago PMI. Fed speakers include Logan, Barkin, Schmid, Hammack, and Harker, who will provide their take on the data.
Japan is closed Monday for the Emperor's Birthday; Tokyo Core CPI, industrial production, and retail sales are due on Friday.
In China, the official NBS February PMIs are released on Saturday. They will be watched for recovery signs after January's manufacturing activity unexpectedly contracted to a five-month low, and the non-manufacturing PMI slowed markedly.
Australia's January CPI release on Wednesday will shape Reserve Bank of Australia policy expectations further, after its cautious rate cut last week; Q4 CAPEX is due Thursday. New Zealand has retail sales and surveys on business and consumer confidence. Canada publishes its Q4 GDP on Friday, while Bank of Canada Deputy Governor Toni Gravelle speaks on Monday.
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German election results https://reut.rs/3CUIsSo
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