The week ahead will be marked with investors turning their attention to the Italian elections and US revised GDP. Although the risks are limited as far as the euro currency is concerned, any surprise results could indeed bring volatility to the markets. On the economic front, data this week will focus on the revised GDP estimates from the U.S. With the start of a new trading week, indicators covering the key sectors will be released.

In the UK, PMI’s from Markit will show how the construction and manufacturing sectors have fared.

Data from the Eurozone is limited to the flash inflation estimates for the month of February. Consumer prices are expected to remain broadly stable from January’s inflation figures. However, as far as the euro currency is concerned, the Italian elections will likely overshadow any economic data during the week.

Here’s a quick recap of the key economic events due this week.

U.S: Durable goods orders, GDP and PMI’s

The start of a new trading week brings fresh economic data from the U.S. covering the period of February. As per initial estimates from various GDP trackers, the U.S. economy is expected to have started the year on a strong note.

This could be likely reflected from the fact that the figures for February remain around the same levels of activity as in the previous month. Starting the week, the U.S. durable goods orders will be coming out on Tuesday. The data will cover the period of January. Previously, durable goods orders were seen rising at the strongest levels in six months and December’s data reversed the declines posted in the previous month.

Later in the week, the second revised GDP estimates from the U.S. will be released. Economists forecast no change to the GDP data which is expected to confirm that the U.S. economy advanced at a pace of 2.6% for the quarter ending December 2017. Although a bit slower pace of expansion compared to the previous quarter, the markets expect to see growth picking up in the first quarter of the year. A beat on the estimates could potentially push rate hike expectations even further.

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