5 Things to Watch on the Global Economic Calendar This Week

Start of the Feb 2016 Series will be critical for the Financial Markets, we have following major global economic events in focus this week 

Central bank meetings in the U.K. and Australia will also be in focus.

1. China manufacturing PMIs

The China Federation of Logistics and Purchasing is to release data on January manufacturing sector activity at 1:00GMT on Monday (6:30am IST) followed by the Caixin manufacturing index at 1:45GMT (7:15am IST)

The official China's manufacturing purchasing managers' index is forecast to inch down 0.1 points to a three-year of 49.6 in January, while the Caixin survey is expected to dip to 48.0 from 48.2 in the preceding month.

A reading below 50.0 indicates industry contraction.

2. U.S. ISM PMI surveys

The U.S. Institute of Supply Management is to release data on January manufacturing activity at 15:00GMT on Monday (8:30pm IST). The gauge is expected to ease down 0.2 points to 48.0, which would be the lowest reading since July 2009.

Meanwhile, the ISM is to report on January service sector activity on Wednesday, amid expectations for a modest decline. Service sector activity in the U.S. grew at the slowest pace in almost two years in December.

3. Reserve Bank of Australia policy meeting

The RBA's latest interest rate decision is due on Tuesday at 3:30GMT. Most economists expect no policy change, while some believe the central bank can surprise with a 25 basis point rate cut in an effort to boost inflation and spur economic activity.

4. Bank of England "Super Thursday"

The Bank of England will release its rate decision and minutes of its Monetary Policy Committee meeting at 12:00GMT on Thursday.

Last month, the Monetary Policy Committee voted 8-1 to keep rates on hold at a record low 0.5%. Most market players expect the BOE to begin slowly raising interest rates in mid-2016.

Expectations for a rate hike by the Bank of England have been pushed back to late-2016 due to a recent spate of weaker than expected data and amid uncertainty over a referendum on whether or not Britain should stay in the European Union.

5. U.S. nonfarm payrolls report

The U.S. Labor Department will release its highly-anticipated report on January nonfarm payrolls at 13:30GMT on Friday.

The consensus forecast is that the data will show jobs growth of 190,000 last month, following an increase of 292,000 in December, while the unemployment rate is forecast to hold steady at 5.0%.

Monthly jobs gains above 200,000 are seen by economists as consistent with strong employment growth.