Market Focus
Coming to the beginning of February in this week, investors will receive a large number of economic data from U.S. Durable Goods Orders and Pending Home Sales will be released on Monday. Consumer Confidence Index and Gross Domestic Product Annualized (Q4) are due on Tuesday and Wednesday respectively. Core Personal Consumption Expenditure - Prices Index and Personal Income and Expenditure in December and are scheduled to release on Thursday. ISM Manufacturing PMI and Non-Farm Payrolls will be the focuses of investors on Friday.
The Federal Reserve's policymakers will meet this week for the first time this year. The Federal Open Market Committee's meeting will start on Tuesday and end on Wednesday. Most economists polled in late January expect the Fed's ultra-loose monetary policy to stay in place well into next year despite the modest growth forecast for the U.S. economy.
In Europe, Retail Sales, Unemployment Rate and Consumer Price Index in Germany will be released on Thursday. Investors would like to know whether the contraction of Germany in the fourth quarter of 2012 is short-lived or not. In China, NBS and HSBC Manufacturing PMI will be reported on Friday. Economists expect the latest data from China will show economy in China begins 2013 with strong momentum.
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