Key Economic News to Watch This Week: Jan. 30
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
A quick preview of the key economic events for the upcoming week:
China is back to business after the conclusion of the first of their weeklong Golden Holidays. With the conclusion of Davos, the latest buzz word seems to be the call for greater economic and social equality. Looking ahead to the week of reports and meetings, the sixth-part of the EU Summit could offer more clarity over the fate of the unified currency.
A quick preview of the key economic events for the upcoming week:
China is back to business after the conclusion of the first of their weeklong Golden Holidays. With the conclusion of Davos, the latest buzz word seems to be the call for greater economic and social equality. Looking ahead to the week of reports and meetings, the sixth-part of the EU Summit could offer more clarity over the fate of the unified currency.
Across in the United States, the job market is expected to extend its recovery, a sign that companies are gaining confidence and that the United States’ expansion will be able to weather Europe’s slump.
Monday, January 30
EU leaders meet for the sixth time, following unsuccessful private sector involvement negotiations on Greece, making it harder for the group to make a breakthrough in the debt crisis.
Lloyds Banking top boss Antonio Horta-Osorio is expected to unveil plans to simplify the bank’s structure and to pass on more power to top executives, as he attempts to convince investors he can avoid a relapse of exhaustion he suffered last year.
Related News: Bankers in London Need Mental Help
Nervous investment bankers in Britain are contacting headhunters in anticipation of a new wave of redundancies this year, while those already laid off are increasingly willing to accept temporary roles or positions overseas, according to senior figures in London’s recruitment industry.
Europe’s carmakers are crying foul over a proposed trade agreement between the European Union and India, which they say would restrict access to one of their most important but highly protected markets.
British and Swiss regulators are likely to begin enforcement proceedings against Swiss bank UBS for shortcomings that allowed a London trader to make unauthorized trades last year.
Related Story: UK’s Alarming Apathy Towards Its Banking Sector’s Criminality
Related Story: Inside The Mind Of The UBS ‘Rogue’ Trader
Tuesday, January 31
Has the business and consumer sentiment in the United States improved? According to our Consumer Confidence Index, confidence dipped slightly from the previous month. However, analysts are expecting consumer confidence to improve.
Wednesday, February 1
The European competition commissioner, Joaquin Almunia, will issue a decision about the proposed merger of Deutsche Börse and the New York Stock Exchange.
Related News: EU Moves to Block NYSE-Deutsche Boerse Merger on Anti-Trust Concerns
AMR, the parent of American Airlines, will lay out its cost-cutting plan under bankruptcy protection
Thursday, February 2
House Financial Services subcommittee will conduct a hearing about the collapse of MF Global.
Friday, February 3
The United States releases its Purchasing Managers Index, a leading indicator of economic conditions and activity in the country, and is widely expected to release expansionary results.
At the same time, many are looking forward to yet another monthly round of positive U.S. payroll and employment data, after the Fed last week extended its commitment to an accommodative monetary policy. From previous double digit highs, the unemployment number is expected to cool to 8.5 percent this month.
