Weekly Analysis ( 13 Mar - 17 Mar 2023 )
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13 Mar – 17 Mar 2023 |
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Time(GMT) |
CRY |
Event |
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Monday |
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10:00 |
EUR |
Eurogroup Meetings |
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17:00 |
EUR |
German Buba Balz Speaks |
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Tuesday |
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07:00 |
GBP |
Average Earnings Index +Bonus |
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07:00 |
GBP |
Claimant Count Change |
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07:00 |
GBP |
Unemployment Rate |
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12:30 |
USD |
US CPI |
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21:20 |
USD |
FOMC Bowman Speaks |
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Wednesday |
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02:00 |
CNY |
Industrial Production |
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10:00 |
GBP |
UK Spring Forecast Statement |
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12:30 |
USD |
US Core Retail Sales |
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12:30 |
USD |
US PPI |
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12:30 |
USD |
US Retail Sales |
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21:45 |
NZD |
New Zealand GDP |
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23:50 |
JPY |
Japan Trade Balance |
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Thusday |
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00:30 |
AUD |
AU Employment Change |
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12:30 |
USD |
US Building Permits |
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12:30 |
USD |
US Initial Jobless Claims |
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12:30 |
USD |
Philadelphia Fed Manufacturing Index |
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13:15 |
EUR |
ECB Interest Rate Decision |
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Friday |
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10:00 |
EUR |
Eurozone CPI |
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13:15 |
USD |
US Industrial Production |
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14:00 |
USD |
Michigan Consumer Sent. |
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After a major bank's failure, investors are concerned about U.S. inflation data, which will be a significant indicator for the market that's already facing pressure due to the Federal Reserve's efforts to control inflation. In addition, the European Central Bank is likely to announce another significant rate increase, and the U.K. will present its latest budget while China will release various economic data. This is the essential information you need to begin your week. Following the unexpected failure of Silicon Valley Bank, investors are becoming anxious about the impact of the Federal Reserve's strategy to tackle inflation on the financial system. There are growing fears that the vulnerabilities exposed by the collapse could worsen if the Fed increases its rate hikes. Economists predict that monthly inflation in February will rise by 0.4%, following a 0.5% increase the previous month, with an annual gain of 6.0%. In the event that the economy remains strong after nearly a year of tightening, Fed Chair Jerome Powell stated last week that the central bank is likely to increase rates higher than initially anticipated, but there has been no decision yet about the March meeting. Additionally, there are other economic indicators to monitor in the coming week, including retail sales, producer price inflation, housing starts, and industrial production figures for February. The European Central Bank (ECB) is expected to raise interest rates by an additional 50 basis points at its meeting on Thursday, having already increased rates by 3 percentage points since July, in an effort to control inflation. The latest data revealing a slight uptick in underlying inflation in the Eurozone has heightened concerns that inflationary pressures are becoming more entrenched. On Wednesday, Britain's Chancellor, Jeremy Hunt, will present the Spring Budget. Following the market turbulence in September, when Hunt's predecessor Kwasi Kwarteng and former Prime Minister Liz Truss announced generous tax cuts, experts anticipate that Hunt will prioritize maintaining stable public finances. China will release its initial retail sales and industrial production figures of the year on Wednesday. This data is anticipated to provide market observers with some clarity on whether Beijing's recent 5% growth objective is as conservative as many experts believe. |
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