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Markets will be paying close attention to a series of reports out of Europe and the U.S. on Wednesday, with final readings of GDP set for release in France and the U.K., as well as February’s durable goods report in the U.S. In earnings, expect announcements from Family Dollar and Mosaic Co. Here’s what you need to know.
- France starts things off at 1:30 a.m. EST on Sunday morning with a final reading of fourth quarter GDP. Economists expect the economy expanded by 0.2 per cent in the final quarter, the same as an earlier reading.
- Swedish consumer confidence follows at 3:00 a.m. EST, with expectations for the index to improve in March to -2 from -3.2.
- Italian business confidence will be announced at 4:00 a.m. EST. Economists polled by ForexTV expect the index to improve in March to 91.7 from 91.5.
- At 4:30 a.m. EST, the U.K. will release a final reading of fourth quarter GDP. Consensus opinion is for no change from earlier estimates of a 0.2 per cent contraction.
- A reading of Icelandic consumer prices will be released at 5:00 a.m. EST. CPI last increased by 1.0 per cent in February from January. There is no consensus estimate for the March report.
- German consumer prices are expected to increase 0.3 per cent in a March preliminary reading, which is set for release at 8:00 a.m. EST.
- Attention shifts to the U.S. at 8:30 a.m. EST with February’s durable goods orders report. Economists anticipate orders grew by 3.0 per cent during the month, while non defence capital goods orders excluding air increased 1.5 per cent.
- At 9:00 a.m. EST, the Teranet-National Bank House Price Index will be updated to reflect changes to home prices in Canada in January. There is no consensus estimate at this time.
Below, the major earnings announcements scheduled for the day.
Family Dollar Stores (FDO): $1.13
Mosaic (MOS): $0.69
Red Hat (RHT): $0.27
Consensus estimates provided by Bloomberg.