Look ahead: Japan CPI; UK retail sales; China Caixin; US PMIs; Greggs; Target
The health of the global economy swings into focus with the latest China Caixin reading, inflation figures from Japan and US non-manufacturing PMIs. The UK releases its latest retail sales print ahead of the budget.
Plus, watch for earnings from Greggs and US retailer Target.
(AI Video Summary)
Tokyo core CPI data
Today's "Look ahead" video covers a range of economic events and updates from around the world for 5 March, 2024. It starts off by discussing the inflation numbers in Japan, specifically the Tokyo core CPI. Basically, these numbers help us understand how prices are changing in Japan and if it could affect the overall economy.
UK retail sales numbers
Next, the video focuses on the United Kingdom's BRC retail sales monitor and February new car sales. These numbers give us an idea of how strong consumer spending is in the UK. For example, if there is a rise in retail sales, it means people are spending more, which is generally good for the economy.
Cable trade news
The video also talks about the consolidation phase of the EUR/USD trade. This is a term often used to describe the British pound against the US dollar. Ong mentions that the finance minister, Jeremy Hunt, will be making a budget announcement on Wednesday. This is important because it can impact the value of the pound.
China, eurozone and US news
Moving on to China, the video mentions the Caixin services PMI, which is a measure of activity in the services sector. The video expects a decrease in this measure compared to January. This could indicate a slowdown in China's economy.
The video also mentions the eurozone's producer price index, which measures the average change in prices received by domestic producers. It is noted as a potential surprise factor, meaning it could have a greater impact on the market than expected.
But the most action is expected to come from the US. The video mentions key events like the jobs report, comments from Fed chief, Jerome Powell, and the ISM services PMI. These events can greatly influence the US stock market.
Target's earnings report
The video briefly touches on upcoming earnings, with a focus on Target. Target is expected to see a drop in same-store sales, but investors are optimistic about its future sales and profits. They are looking at positive results from November as an indication of the company's potential.
However, it's noted that Target faces competition from Chinese online retailers like Pinduotuo and Timo. This highlights the global nature of the retail industry and how companies need to adapt to stay competitive.
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