Weekly Market Analysis page 46

Key events:         Eurozone – CPI (YoY) (Feb) Yesterday's ECB decision was crucial as it gave the first glimpse of what bank stress means for monetary policy. And it meant nothing special – good news for the markets. The ECB decided not to blow up the banking problems and announced a 50bp rate…

Key events:         USA – Building Permits (Feb)    USA – Initial Jobless Claims USA – Philadelphia Fed Manufacturing Index (Mar) Eurozone – ECB Monetary Policy Statement      Eurozone – ECB Interest Rate Decision (Mar)   Eurozone – ECB President Lagarde Speaks The U.S. stock market fell after…

Key events:         China – Industrial Production (YoY) (Feb) UK – Spring Statement      USA – Core Retail Sales (MoM) (Feb) USA – PPI (MoM) (Feb)   USA – Retail Sales (MoM) (Feb) USA – Crude Oil Inventories   New Zealand – GDP (QoQ) (Q4) The U.S. consumer inflation report was the most important…

Key events: UK - Average Earnings Index +Bonus (Jan)     UK - Claimant Count Change (Feb)     USA - Core CPI (MoM) (Feb)           USA - CPI (MoM) (Feb)           USA - CPI (YoY) (Feb) Amid the fallout from the biggest U.S. banking meltdown since the 2008 global financial crisis, investors will…

Key events: Eurozone - Eurogroup Meetings     The U.S. economy created 311,000 new non-farm jobs in the second month of 2023, according to data released on March 10 by the Labor Department. The figure was markedly higher than economists' consensus forecasts, which had suggested an increase of 225…

Key events:         UK – GDP (MoM) (Jan) UK – Manufacturing Production (MoM) (Jan) UK – Monthly GDP 3M/3M Change (Jan) USA – Nonfarm Payrolls (Feb)   USA – Unemployment Rate (Feb)   Canada – Employment Change (Feb)   Eurozone – ECB President Lagarde Speaks   Thursday might have been a quiet day…

Key events: USA - Initial Jobless Claims              Canada - BoC Senior Deputy Governor Rogers Speaks                      New Zealand - Business NZ PMI (Feb) The DAX index closed higher after Powell's first day of testimony before the Senate. The better-than-expected jump in January industrial…

Key events:                                                     Eurozone - ECB President Lagarde Speaks                      USA - ADP Nonfarm Employment Change (Feb) USA - Fed Chair Powell Testifies                      USA - JOLTs Job Openings (Jan)     Canada - BoC Interest Rate Decision USA -…

Key events:                                                     Australia - Retail Sales (MoM)     Australia - RBA Interest Rate Decision (Mar)     Australia - RBA Rate Statement  China - Exports (YoY) (Feb)         China - Imports (YoY) (Feb) China - Trade Balance (USD) (Feb)                    …

Key events:         UK – Construction PMI (Feb) Canada – Ivey PMI (Feb) Despite the Fed's best efforts, the labor market remains overheated as initial jobless claims fell by 2,000 (n/a) to 190,000 and U.S. service sector business activity remains elevated. In the context of fighting inflation,…

Key events:         UK – Composite PMI (Feb) UK – Services PMI (Feb) USA – ISM Non-Manufacturing PMI (Feb) The U.S. stock market ended February uncertain, leaving investors questioning whether the rally seen earlier this year will continue. After a strong January, the Dow Jones Industrial Average…

Key events:         Eurozone – CPI (YoY) (Feb)    Eurozone – ECB Publishes Account of Monetary Policy Meeting      USA – Initial Jobless Claims The economic data that came out in recent days gave us some nice surprises and investors are now trying to figure out what that means in terms of Fed…