THIS WEEK’S MARKET-MOVING EVENTS (all days local)
On Monday, Canadian housing starts are expected to recover to a 250,000 rate for January after slipping to 231,468 at an annual rate in December from 267,140 in November.
On Tuesday, look for the Reserve Bank of Australia to kick off its rate cut cycle with a 25 basis point move to 4.10 percent. The UK Labour Market report is expected to show unemployment ticked up to 4.1 percent, and average hourly earnings are seen up a tidy 5.9 percent on the year.
Germany’s ZEW economic sentiment index is seen up to 17.5 from 10.3 in January. The consensus sees Canada’s CPI up 0.1 percent on the month and up 1.8 percent from a year ago versus minus 0.4 percent on the month and 1.8 percent last month.
In the US, the Empire manufacturing index is expected to improve marginally to minus 0.5 in February after dropping to minus 12.6 in January from 2.1 in December. The NAHB housing market index is seen at 47 in February after firming to 47 in January from 46 in December.
On Wednesday, Japanese export values are forecast to post a fourth straight year-on-year rise in January, up 10.4 percen, after hitting a record high in December with a 2.8 percent gain. The trade balance is forecast to post a large deficit of ¥2.15 trillion after a ¥132.46 billion surplus in December, its first positive figure in six months.
The Reserve Bank of New Zealand is expected to announce another 50 basis point rate cut in the official cash rate to 3.75 percent after a 50 bp move to 4.25 percent in November. In the UK, annual inflation is seen at 2.8 percent in January versus 2.5 percent in December. Meanwhile, US housing starts are seen at a 1.397 million unit rate in January, down from 1.499 million in December. Permits are seen at a 1.470 million unit rate versus 1.483 million.
On Thursday, jobs in Australia in January are expected to show a 20,000 increase on the month. The jobless rate is expected to tick up to 4.1 percent from 4.0 percent in December. The US Philly Fed index, which rose to 44.3 in January from minus 10.9 in December is seen at 22.7 for February.
On Friday, consumer inflation in Japan is expected to accelerate further in January, with the core reading (excluding fresh food) up by 3.1 percent on year after rising to 3.0 percent in December. UK retail sales are expected to post a moderate 0.3 percent rise on the month with a gain of 0.9 percent on year.
In the US, existing home sales are seen down to an annual rate of 4.16 million units in January after rising to 4.24 million in December from 4.150 million in November. Finally, US consumer sentiment is expected at 68.0 for the final February reading after dropping to 67.8 in the preliminary February report from 71.1 in January.
Econoday
I was asked whether the US has a VAT
No, the U.S. does not have a national Value-Added Tax (VAT). Instead, it relies on a combination of federal, state, and local taxes, including sales taxes, excise taxes, and corporate income taxes. Sales taxes, which are applied at the state and local levels, function similarly to a VAT but are imposed only at the final point of sale rather than at multiple stages of production.
(from the internet)
I would strongly suggest Trump be gentle in matters of immigration and on tariffs. Yes, with hardened criminals yes, be as hard on them as possible but with the normal decent people who work hard… on them please be gentle… live and let live is the name of the game… The spill over effects of all that action has to be considered thoroughly… Increasing Sales tax is a safer and wiser option and by far the wisest defensive measure…
What needs to be done with urgency is for the shipping lines to resume international operations and get capacity to pre-pandemic levels. You know though that the kinds of people who work on ships?. Phillipinos, Malay, Indonesian etc. I have seen those people in action and they are international expatriates, but that being aside… they are “reputed” for working very hard for very long hours. what they do is earn and at the time of retirement they retire back home to their families, some of them stay back but then they retire and live peacefully, so nothing wrong with that. Now on the matters of immigration and tariff crackdowns which when combined may cause shipping industry workers and the shipping lines to boycott port visits… some companies can refuse to export while some will be willing to export but the shipping lines may not be willing to carry the cargo because they don’t have hard working expatriate’s… the only solution then is to hire the Chinese to work on those ships and who knows what Intel they may gather and spill… it might end up that China might create their own shipping lines (if not already) and not only manufacture and export goods to other countries but deliver them to the destinations as well… guarded and escorted of course into the port by Chinese naval vessels… Then you’ll have a problem…
Know the best place in the world to manufacture cars and even more so the best place in the world to buy race cars? The best place in the world to send a stock car and get it race worthy?
Japan…
They got some really genius talent there and Japan is a traditional manufacturer/exporter and trading partner…
Try to think of this: A Japanese carpenter can shave a length of wood and give you a long sheet of it equal to the thickness of say a currency note. Now they are able to build furniture without using even a drop of glue or even hammering nails into the wood… Now else in the world can they do something like that? We saw that and became like bill and ted… it’s like no way dude!! it’s impossible!! how did they do that!
Long before the war even was far away from happening, it was not even a remote possibility then but do you people know how many times in India I have come across information that women from Ukraine are living here to serve evil lusts… I don’t view all of them like that as some are really very very very decent and worthy of citizenship (if they apply) but in the majority of cases they are here corrupting the system and that is what angers me very much.
Avarice, Stealth, Deception, Betrayal.
Luckily Russia found out the plans and put a stop to them. What if they hadn’t? Zelensky would have pulled off a Saddam Hussein! Like the way that Saddam Hussein had done towards Kuwait and sent his troops to loot that country!!
On top of that he’s making all countries in the world into oolu–> Fools! and calling on all the countries in the world to send him their taxpayers money and not only that!! but manipulating them into sending him guns and bombs. So it’s like he’s saying gimme money, gimme gun and gimme bomb… and to top it all off he wants food too! Then he will say to them to make him the heir to the Russian throne…
It looks like there may NOT beanother tariff news opening week gap.
Meanwhile, Trump said his next focus is on car imports.
I found this in home web.
As of February 2025, the European Union (EU) imposes a 10% tariff on imported vehicles from the United States, while the U.S. applies a 2.5% tariff on European car imports. This disparity has been a point of contention in transatlantic trade relations. In response, the EU has proposed reducing its tariff on U.S. car imports to 2.5%, aligning with the U.S. rate, in an effort to ease trade tensions. 
Additionally, President Donald Trump has announced plans to impose new tariffs on countries with value-added tax (VAT) systems, arguing that these taxes act as trade barriers disadvantaging U.S. exports. This policy could significantly impact the EU, where VAT rates average around 22%. 
These developments indicate ongoing negotiations and potential changes in tariff structures affecting U.S.-EU automotive trade.
They should haul that tyrant to the International Hague Court and make them sentence him to life in prison. He has made cannon fodder out of his military, and countrymen/countrywomen and sent them to their deaths!!!. Now will their children have parents? no… Will their parents grow old enough to see them raising their own children? no… Will those young and innocent children have money to buy school books? no… That is why I said let Zelensky concede defeat to Russia and spend his life in prison.
Government’s are not fools to send their troops to invade another country unless there is a very serious threat to the status quo of political, economic and civic stability not only to that invading country but to the entire political, civil systems etc in operation in that specific and other specific regions… More than that is threat to their people, neighboring countries and even people living in other countries…
© 2024 Global View