By Neofytos Hadjineofytou
Find Neo’s notes below for the major market movers today.
Market Update 15/02/2023
GBP CPI – Inflation data measurement, the data measurement was released today. For the year. The actual came out to 10.1% from 10.5% better than the forecast of 10.3%, signs of a slight cool off, yet far from preferred, which in return points to the next move from the BoE regarding the interest rate.
USD Retail Sales & PPI – leading indicators of inflation and of consumer spending. Both are of vital importance because consumer spending is closely related to inflation level and production costs are closely related to consumer spending. If a higher cost of production occurs, it is then passed to the consumer and consumer spending is associated to inflation levels.
Keep in mind with yesterday’s Inflation data measurement release, The Fed’s already left clues for another rate hike.
ECB President Lagarde Speech – President Lagarde is due to testify on the ECB Annual Report. Her speech is expected to revolve around inflation, and she is expected to leave hints regarding the ECB interest rate.
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