What are the main events for today?

February 28, 2025 at 07:34AM
We have lots of economic data being released today but just a few of them will be important. In the European session, the focus will be on the French and German CPI readings ahead of the Eurozone CPI next week. The ECB March cut is already certain but looking ahead more and more central bank speakers called for caution for easing too fast.

In the American session, we have the Canadian GDP and the US PCE. The focus will of course be on the US Core PCE data although, as it’s usually the case, it’s unlikely that we will get surprises. Watch out also for Trump headlines as they continue to move the markets with his usual tariffs. He will speak to the media at 14:00 GMT/09:00 ET and then will have a press conference with Ukraine’s President at 18:00 GMT/13:00 ET.

13:30 GMT/08:30 ET – US January PCE

The US PCE Y/Y is
expected at 2.5% vs. 2.6% prior, while the M/M measure is seen at 0.3% vs. 0.3%
prior. The Core PCE Y/Y is expected at 2.6% vs. 2.8% prior, while the M/M
figure is seen at 0.3% vs. 0.2% prior.

Forecasters can reliably
estimate the PCE once the CPI and PPI are out, so the market already knows what
to expect. Therefore, unless we see a deviation from the expected numbers, it
shouldn’t affect the current market’s pricing.

This article was written by Giuseppe Dellamotta at www.forexlive.com.