08 March 2023
Emily Nicol
,
Chris Scicluna
- Japan’s economy watchers survey saw the headline current conditions index rise for the first month in four
- UK labour survey suggested a further moderation in permanent jobs growth in February, but still strong wage pressures
- US trade numbers for January and ADP employment report due; Fed Chair Powell to repeat his hawkish monetary policy testimony before the House financial services committee
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07 March 2023
Emily Nicol
,
Chris Scicluna
- RBA hikes by another 25bps as expected, taking its Cash Rate to 3.6% and stated that it “expects that further tightening of monetary policy will be needed”
- German factory orders rise for 2nd month in January on aerospace demand
- Despite the headline figures signalling a rebound in spending in January, the BRC survey suggests that the downtrend in UK real sales on non-essentials continues
- All eyes today on the Fed Chair Powell’s testimony to Congress
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06 March 2023
Emily Nicol
,
Chris Scicluna
- Kuroda is likely to leave policy unchanged at his final meeting to try to maintain the squeeze on investors betting against YCC
- Fed Chair Powell’s semi-annual testimony to Congress will be closely watched for any hints on the likely policy path over coming FOMC
- ECB consumer expectations survey published this week
- The main UK release will be January GDP data, which are expected to report only very modest growth
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03 March 2023
Chris Scicluna
,
Emily Nicol
- Germany’s goods trade surplus rose to a near 2-year high; French manufacturing output started 2023 on the back foot
- ECB Governing Council hawk Wunsch flagged the possibility that the deposit rate might have to rise to 4.0%
- February services PMIs from the euro area and UK this morning are expected to reaffirm the signal of a notable rebound in activity in the sector in the middle of Q1.
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01 March 2023
Emily Nicol
- CPI estimates from Germany’s largest state NRW surprised on the upside, suggesting that German inflation is at greater risk of an unwelcome increase in February
- Nationwide reported that UK house prices fell for the sixth consecutive month
- Chinese PMIs came in well ahead of expectations in February
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