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Tuesday offers some interesting data points, with a focus on consumer and business confidence. Markets will be paying close attention to a series of reports out of Japan and the U.S. In earnings, expect announcements from Lennar and PVH. Here’s what you need to know.
- Japan starts things off at 7:50 p.m. EST on Monday evening with a reading of the Bank of Japan’s Corporate Services Price Index for February. Economists expect the index to decline 0.4 per cent during the month.
- Announcements continue in Japan at 1:00 a.m. EST on Tuesday morning, when small business confidence for March is released. The index last stood at 45.3. There is no consensus estimate at this time.
- German consumer confidence follows at 2:00 a.m. EST, with expectations for the GfK survey to remain flat at 6 for April.
- French consumer confidence will be announced at 2:45 a.m. EST. Economists polled by ForexTV expect the index to improve to 83 from 82 last month.
- At 4:00 a.m. EST, Taiwan’s coincident index will be released. The index is made up of seven components including industrial production, machinery & electrical equipment imports, manufacturing sales, and non-agricultural employment, among others. There is no consensus estimate at this time.
- A reading of British retail sales will be released at 6:00 a.m. EST. The Confederation of British Industry will announce a reading of sales for March, with the index seen falling to -5 from -2.
- Attention shifts to North America at 9:00 a.m. EST with Case-Shiller home price data in the U.S. The index monitoring 20 major regions is seen declining 0.3 per cent in January.
- U.S. announcements continue at 10:00 a.m. EST with readings of consumer confidence and manufacturing activity by the Richmond Federal Reserve. Expectations are for confidence to decline slightly in March, to 70.1 from 70.8. Manufacturing activity in the fifth federal district is forecast to continue its expansion in March, even as the key business index falls two points to 18.
Below, the major earnings announcements scheduled for the day.
Lennar (LEN): $0.05
Walgreen (WAG): $0.77
PVH (PVH): $1.10
Sealy (ZZ): -$0.02
Consensus estimates provided by Bloomberg.