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Abstract:The Producer Price Index, which is an important gauge of wholesale-level inflation, increased by 2.1% over the 12 months leading up to March. This marks a rise from the 1.6% gain observed in February, representing its most substantial increase since April 2023. In March, consumer prices in the U.S. rose beyond expectations as consumer price index increases 0.4% in March, driven by higher costs for gasoline and rental housing. In March, U.S. retail sales surpassed expectations, with Core Retail..
The Week Ahead: Week of 13thMay(GMT+2)
Eye on the Horizon: Market Anticipate Inflation Data Ahead
Tuesday, 14th May2024, 14:30
US PPI (YoY) (Apr)
The Producer Price Index, which is an important gauge of wholesale-level inflation, increased by 2.1% over the 12 months leading up to March. This marks a rise from the 1.6% gain observed in February, representing its most substantial increase since April 2023. This indicates significant pressures within the supply chain that could contribute to sustained high levels of inflation. With the U.S. economy and inflation remaining strong, there's an expectation in the market that these supply side pressures may continue to impact consumers in the months ahead.
Wednesday, 15thMay2024, 14:30
US CPI (MoM) (Apr)
In March, consumer prices in the U.S. rose beyond expectations as consumer price index increases 0.4% in March, driven by higher costs for gasoline and rental housing. The consistent strong consumer price readings reported by the Labor Department for the third consecutive month imply that the earlier uptick in inflation during January and February cannot be solely attributed to businesses raising prices at the start of the year, as previously argued by economists. Therefore, the upcoming data release is anticipated to maintain the trend of relatively elevated inflation seen this year.
Wednesday,15thMay2024, 14:30
U.S Core Retail Sales (MoM) (Apr)
In March, U.S. retail sales surpassed expectations, with Core Retail Sales increasing by 1.1%, up from 0.6% in the previous month, fueled by a surge in online retail receipts. This reinforces the notion that the economy ended the first quarter on a solid footing. The robust retail sales figures prompted economists at Goldman Sachs to raise their first-quarter gross domestic product (GDP) growth estimate to a 3.1% annualized rate, up from a previous estimate of 2.5%. Despite higher inflation and borrowing costs, consumer spending remains resilient, suggesting that upcoming data is likely to continue reflecting strong economic activity.
Thursday,16thMay2024, 03:30
Australia Unemployment Rate (Apr)
Australia's headline unemployment rate edged up slightly to 3.8% in March from 3.7% in the February, with a decrease in employment by 7,000 people and an increase in unemployment by 21,000 people. The data underscores the challenge posed by high inflation and cost-of-living pressures, which are creating difficult conditions for many businesses, impacting employment. There is an ongoing expectation that the labor market will continue to gradually ease in strength as the effects of higher interest rates persist in the economy.
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For June 2024, Canada's CPI rose by 2.7% year-over-year, down from 2.9% previously. This decrease in core inflation is driven by a combination of slower economic growth and moderated wage growth, even with a strong labor market. The FOMC meeting minutes from July 2024 indicated that the Federal Reserve decided to maintain the federal funds rate within the target range of 5.25% to 5.50% and revealed a shift in the Fed's focus. The latest data on U.S. Initial Jobless Claims, for the week ending...
The U.S Producer Price Index (PPI) for June showed a month-over-month increase of 0.2%, which was slightly above market expectations of 0.1%. The Reserve Bank of New Zealand (RBNZ) recently kept its Official Cash Rate (OCR) unchanged at 5.50% during its last meeting on July 2024, which was consistent with market expectations. As of June 2024, the U.S. Consumer Price Index (CPI) showed a modest increase of 3.0% year-over-year, weaker than market expectation and previous reading of 3.1% and 3.3%..
Gold declined in the early Asian session due to profit-taking after hitting a record high on Friday. The US NFP report showed only 117K new jobs in July, below the expected 175K, signaling a potential increase for XAU/USD. Annual wage growth slowed to 3.7%, easing inflation fears and boosting Fed rate-cut prospects. Rising tensions between Iran and Israel have also increased gold’s safe-haven appeal.
he U.S. equity market continued its rally in yesterday's session, with the Dow Jones approaching its all-time high near the 41,000 mark. The Russell 2000 (US2000) small-cap index surged more than 10% since last Thursday, suggesting that strategists have been rotating their exposure to small-cap counters, which are more sensitive to interest rate changes.