Industrial Production in the Euro rises
- NZD RBNZ Gov Wheeler Speaks
- AUD Monetary Policy Meeting Minutes
- JPY Monetary Policy Statement
It was the calm before the storm yesterday as we ease into a jammed packed calendar. This week we have rate decisions from both the UK and US, US CPI, US Retail Sales and the UK annual budget to top it all. We have seen a relatively positive start to equities once again yesterday, after Friday’s strong rally which more than erased the post-ECB disappointment into the close of the Thursday session.
The only notable piece of data released yesterday was posted from the Eurozone. Industrial production in the Euro region rose to a whopping 2.1%, its best reading since September 2009. The decent reading reversed the two negative numbers of December and November as growth were boosted by a sharp rise in capital goods. Ireland helped contribute substantially to the figure, recording the biggest increase in production, rising 12.7%.
- JPY BOJ Press Conference
- USD Core Retail Sales m/m
- USD PPI m/m
- USD Retail Sales m/m
- USD Core PPI m/m
- USD Empire State Manufacturing Index
Key inflation data from the US will grab Today’s headlines. We also have the release of a key piece of tertiary sector data in the form of Core Retail Sales from the world’s largest economy. Although these releases are unlikely to change the rate hike expectation, we may still see volatility in the markets during the release of these two high tier readings.