Once again, please find below a list of the eventful days ahead. The main sources are Unicredit’s Weekly Focus, Forex Trading weekly calendar, the EU’s general calendar, the EU’s national issuance calendar and many others, all of which I advise you to consult directly. I found Unicredit’s to be the most complete and accurate freely available one, so I present it to you below (many thanks to them and specially to Nikolaus Kei for compiling this) . Look out for:
- Ongoing developments in Greek PSI negotiations
- European Council Meeting, on Monday
- Unemployment figures for Germany, on Tuesday
- Euro-Zone inflation release, GDP data report for Spain and Italian bond auction results on Wednesday
For more details see below
Of these events, I believe that markets will be most reactive to the EU Council informal Meeting, on Monday, where leaders are supposed to endorse the latest amended version of the ESM treaty as well as the results of the latest negotiations of the draft Fiscal Compact treaty (the successful ratification of which is, at the very least, doubtful in some countries). German unemployment figures out on Tuesday should provide good news for Europe, although more directly so for Germans, with unemployment figures expected to remain low(pp. 5-9).
Aside from the above, Germany, France, the Euro-zone and Italy will publish inflation figures on Monday, Tuesday, Wednesday and Friday, while Spain releases GDP figures on Wednesday. Inflation accross the EU is expected to be low, while Spanish GDP is expected to have continued falling in 2011.
Finally, there are several planned sovereign debt auctions for the week, most prominently of all, Italy:
- The Czech Republic will auction 5 to 8 Billion Czech Krona in debt on Wednesday February 1.
- France will auction between 6.5 and 8Bn euros in debt, with maturities/interest rates of 7years/4.25%, 8years/2.5% and 10years/3% on Thursday, February 2.
- Germany is expected to auction 5 Bn euros in 10 year debt, at a 2% interest rate, on Wednesday, February 1.
- Italy is expected to auction 10 bn euros in 5 year bonds, on Wednesday, February 1.
- Romania is expected to tap the bond market for an unknown amount on Thursday February 2.
Place du Luxembourg 