The beginning of the week will stand out for the absence of relevant macroeconomic references. On Tuesday the 13th, the ILO unemployment rate will be published in both France and the United Kingdom, which in the latter case has remained stable in recent months at 4.2% of the active population.
At the same time, we will also learn about the ZEW Survey in Germany, which will be key to knowing the assessment of the economic situation of the leading European power. The latest data continue to confirm the persistence of its industrial crisis, the deterioration of its commercial real estate sector and the impact on its foreign sector of the slowdown in China.
On Wednesday, data of great importance in the Eurozone will be published, such as: GDP, the unemployment rate and industrial production. In addition, the evolution of inflation and industrial production in the United Kingdom will be announced.
On Thursday the 15th, the focus of attention will be on the final reading of inflation in Spain and the preliminary GDP data for the United Kingdom in Q4 2023. On a day when the trend in the Eurozone trade balance will also be relevant, along with the United Kingdom.
Finally, the week will close with the publication of final inflation data in France and retail sales in the United Kingdom.
At the business level, the publication of results from Galp, Randstad, Mapfre, Heineken, Orange, Renault, among others, will stand out, together with the date of Vidrala’s dividend payment.
In the UK, by-elections will dominate the headlines as voters in Wellingborough and Kingswood constituencies decide on their latest representatives on Thursday. The votes follow the ousting of Peter Bone, and the resignation of Net Zero review author Chris Skidmore.
The prospect of Rishi Sunak’s leadership being challenged again in an election year will no doubt be a challenge, apart from whatever the outcome victory will be claimed by the battered Tories.
Spain also sees regional elections in Galicia this week, which might also give an indicator of public feeling towards the current Government here, and the development of the so-called “amnesty law”.
Some UK schools are celebrating half-term this week.
A key day in Spain this week is Tuesday, as Tuesday the thirteenth stokes the same fear in many as a Friday with the same date in other countries. Mars, the Roman god of war, from which Martes gets its name, dictates Tuesday is ruled by the red planet, that of destruction, blood and violence. Furthermore, legend says that on Tuesday the 13th, the confusion of languages occurred at the Tower of Babel.
In Spain, the day is summed up by the saying, “On Tuesday the 13th, neither get married, nor embark, nor leave your home”.
Also this week, Tuesday might be unlucky for passengers flying between the UK and Spain, as a military exercise involving live missile firing is taking place over the Bay of Biscay from Tuesday to Thursday. Flights will therefore be diverted to avoid the area, which could result in delays, particularly on the routes to the Canary Islands, but mainland Spain could also be affected.
Of course, we cannot ignore the fact that this week sees Valentine´s Day on Wednesday, so if you are a strawberry lover, wait until Thursday for the bargains.
