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Comfortable victory for Macron

25 April 2022

Chris Scicluna
, 
Emily Nicol
  • Comfortable victory for Macron in French Presidential election. Focus now shifts to June's Parliamentary elections.
  • The BoJ set to leave policy unchanged despite higher inflation, rising global yields and weak yen.
  • German ifo business survey set to signal ongoing struggles in manufacturing but firmer services sentiment. Friday's euro area GDP report expected to suggest another quarter of very weak but positive growth in Q1.
  • US GDP data expected to report a marked slowdown in Q1.

 

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UK retail sales volumes maintain downtrend

22 April 2022

Chris Scicluna
, 
Emily Nicol
  • Japanese CPI inflation up in March to 3½-year high of 1.2%Y/Y as energy prices rise more than 20%Y/Y, the most in 4 decades.
  • European flash PMIs to be watched today for signs of a further loss of growth momentum at the start of Q2; Macron seemingly firmly on track for another term as French President as he goes head-to-head against Le Pen this weekend.

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UK inflation beats expectations; Japanese orders plunge

13 April 2022

Chris Scicluna
, 
Emily Nicol
  • UK CPI inflation accelerates ahead of expectations to 30-year high of 7.0%Y/Y  
  • Japanese core machine orders plunged in February to raise concerns about the investment outlook 
  • Chinese imports posted an eye-catching year-on-year decline in March as local lockdowns continue to take a toll, while export growth slowed too

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UK labour market remains tight but real regular wage growth negative

12 April 2022

Emily Nicol
  • UK labour market report suggested further tightness, but real regular wage growth firmly in negative territory and so retail spending fell back
  • Japanese producer price inflation came in above expectations in March, with upwards pressures from higher commodity prices and the weaker yen 

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UK GDP fell short of expectations in February

11 April 2022

Emily Nicol
  • UK GDP fell short of expectations in February as manufacturing bottlenecks weighed on output and the slowdown in vaccination activity partly offset a rebound in tourism-related activity
  • Despite ticking higher in March, Chinese consumer price inflation remained subdued at just 1.5%Y/Y; PPI inflation also fell back to an eleven-month low, raising expectations that the PBoC will provide further support to flagging domestic demand this week
  • US and UK CPI inflation figures for March set to jump to new 40-year and 30-year highs respectively

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