core retail sales

Key events: UK - CPI (YoY) (Jun) Eurozone - CPI (YoY) (Jun) USA - Building Permits (Jun) USA - Crude Oil Inventories Investors celebrated Tuesday as the S&P 500 surged, driven by better-than-expected quarterly results from several major corporations, including prominent Wall Street banks.

Key events:      USA - Core Retail Sales (MoM) (Jun)     USA - Retail Sales (MoM) (Jun)               On Monday, the Dow closed higher, with technology and financial sectors leading the way. Investors were eagerly anticipating quarterly results from major Wall Street banks and corporations later in the week. However, the gains in the broader market were somewhat limited by a stumble in the telecom sector.

Key events:         USA – Retail Sales (MoM) (Mar) Yesterday, the luxury sector drove a positive session in European markets, resulting in new record highs for the CAC 40 and modest gains for the DAX and FTSE 100. On the day, this optimism drove US equity markets higher, with the Nasdaq 100 leading the way, and the S&P 500 posting its best close in two months. Interestingly, there was no significant decline in US bond yields.

Key events:         Australia – Employment Change (Jan) USA – Building Permits (Jan)    USA – Initial Jobless Claims   USA – Philadelphia Fed Manufacturing Index (Feb) USA – PPI (MoM) (Jan) The U.S. stock market ended Wednesday's trading on the plus with growth in the last hour of the session. Traders tried to assess the next batch of statistical data on the U.S. economy and draw conclusions as to what they could mean for the further policy direction of the Federal Reserve System.

Key events:       UK – Retail Sales (MoM) (Dec) Eurozone – ECB President Lagarde Speaks      Canada – Core Retail Sales (MoM) (Nov) USA – Existing Home Sales (Dec) Retail sales and industrial production have fallen more than expected. With a recession looming, silver could soar if the Fed stops raising rates. The latest economic data leaves no doubt that the U.S. economy is losing momentum.

Key events:       Australia – Retail Sales (MoM) (Nov) USA – Crude Oil Inventories   Yesterday's speech by Fed chief Jerome Powell at the Stockholm forum gave no hints about the regulator's plans as he did not directly address economic or monetary policy issues. Investors are now waiting for the key event of the week - the release of the U.S. consumer inflation data for December, which the consensus forecast suggests slowed to 6.5% y/y from 7.1% y/y.

Key events:       USA – Building Permits (Nov)   Canada – Core Retail Sales (MoM) (Oct)   Investors will be watching company reports and macroeconomic data closely this week to see if the Fed's interest-rate hike campaign will cause a recession. Key data, in particular, include the report on building permits, which will be released today.

Key events: Canada – GDP (MoM) (Sep)    UK – BoE Gov Bailey Speaks      USA – CB Consumer Confidence (Nov) Friday's U.S. jobs report for November will be the main event this week as investors remain hopeful that the Federal Reserve will soon slow the pace of rate hikes. Fed Chairman Jerome Powell's midweek remarks will be closely watched. Eurozone inflation data will also be in focus, as will China's PMI data amid fears of renewed COVID-19 cases. Here's what you should keep in mind this week.

Key events: Canada – Core Retail Sales (MoM) (Sep) USA – FOMC Member Bullard Speaks      USA – API Weekly Crude Oil Stock  

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