Money Minute Monday 2 March: key events of the week ahead

This week we get a decision on interest rates in Australia, US jobs data and the latest Halifax house price index for the UK.

Good morning and welcome to Money Minute, your comprehensive preview of this week’s biggest financial stories.

The ongoing spread of the coronavirus and the resultant slide in markets will overshadow the majority of this week’s economic data releases, much of which will date back to before the virus disruption kicked in.

However, there are some key events that will give investors some insight into how the authorities are reacting to the panic.

The Reserve Bank of Australia makes its latest decision on interest rates on Tuesday. The central bank is seen as unlikely to cut the key Australian interest rate from its current all-time low of 0.75%. That’s because Australian economic data has been neither amazing – nor terrible – in recent months.

However, given the Australian economy’s dependence on China, it’s hard to believe that the coronavirus won’t hurt its economic growth. As a result, a cut at some point in the near future seems likely, and it might be signalled at the latest meeting.

Later the same day we get a raft of news from the eurozone, including employment data and inflation figures, plus the latest update on GDP growth for last year. The data will mainly be useful for gauging how vulnerable the eurozone is to any pending coronavirus-related slowdown.

In the US on Friday, we get the latest nonfarm payrolls data. This will give us an idea of how many jobs the US economy added in the past month. Markets typically pay a great deal of attention to these figures, because of the implications for the Federal Reserve’s interest rate policy. However, with the coronavirus occupying much more of everyone’s attention, the jobs data may be deemed less important than usual.

Finally, we also get UK house price data from the Halifax. No doubt there will still be evidence of a Boris Bounce lifting prices. The question is whether we’ll see an offsetting Corona Crunch later in the year.

Have a good week!

Recommended

Money Minute Thursday 9 January: EU withdrawal, plus eurozone and US jobs figures
Economy

Money Minute Thursday 9 January: EU withdrawal, plus eurozone and US jobs figures

Today's Money Minute looks ahead to the vote on the government's EU withdrawal bill and the latest employment figures for the eurozone and the US.
9 Jan 2020
Money Minute Wednesday 8 January: UK house prices and Chinese inflation
Economy

Money Minute Wednesday 8 January: UK house prices and Chinese inflation

In today's Money Minute we look ahead to the latest report on house prices from Halifax; plus inflation in China and European business confidence.
8 Jan 2020
Money Minute Tuesday 7 January: will US services fare better than manufacturing?
Economy

Money Minute Tuesday 7 January: will US services fare better than manufacturing?

Today's Money Minute looks ahead to the latest figures from America's services sector, plus the health of the eurozone's retail sector.
7 Jan 2020
Money Minute Monday 6 January: the week ahead
Economy

Money Minute Monday 6 January: the week ahead

In today's Money Minute, we take a look ahead to this week’s biggest financial stories, including UK house prices and American wages.
6 Jan 2020

Most Popular

Gold and silver have taken a vicious beating – is the bull market over already?
Gold

Gold and silver have taken a vicious beating – is the bull market over already?

The gold price has tumbled recently, leaving traders nursing losses – just a nasty correction or has the gold bull market run out of steam? Dominic Fr…
12 Aug 2020
Eagle Lightweight GT: the reincarnation of the E-type Jag
Toys and gadgets

Eagle Lightweight GT: the reincarnation of the E-type Jag

Jaguar’s classic E-type sports car has been reinvented for the modern age. The result – the Eagle Lightweight GT – is a thing of beauty.
7 Aug 2020
Should you take advantage of the UK’s new breed of domestic holidaymakers?
Buy to let

Should you take advantage of the UK’s new breed of domestic holidaymakers?

With Britons choosing to holiday in the UK this year, the owners of the country’s holiday cottages are cleaning up. Should you buy in, too? Merryn? So…
10 Aug 2020