Let the media frenzy commence
- Employment report Friday!!! A frequently revised statistic about a tiny change in a very large labour market!!! Cue the media frenzy right now. The consensus is for a generally OK report in aggregate.
- The structure of the US labour market has been for skilled and semi-skilled improvement (not so much for low-skilled). Today also sees revisions to the employment data (revisions in other statistics have tended to push economic activity higher).
- With the lunar new year looming, the calendar seems set to subdue Asian markets. Oil prices have increased over the course of the last week, and it is worth remembering that core CPI rose in 21 of the 37 larger economies in the world in 2015.
- German factory orders figures are due, perhaps a little overshadowed by the US employment data. German producers have been taking advantage of the Euro weakness to raise overseas prices more than domestic.