Look ahead: JPMorgan Chase; Citi; Wells Fargo; UK GDP; US consumer sentiment
US banks earnings kick off the earnings season with JPMorgan Chase, Citigroup, and Wells Fargo reporting.
Any mention of distress in commercial real estate and weak loan growth will be pounced on, but stellar results could bolster expectations that a June Fed rate cut is now off the cards. US consumer sentiment will be interesting after a hotter-than-expected CPI print. Plus, the UK releases monthly GDP and industrial output numbers.
(AI Video Summary)
Bank of England's election dilemma
In today's "Look ahead", Angeline Ong highlights key financial events and expectations for Friday, the 12th of April, focusing on China's property sector and trade balance, UK's GDP, industrial production, and trade balance impact on GBP/USD. The Bank of England faces an election dilemma similar to the Fed, with rate cuts expected to be off the table until after the US moves, influenced by UK's wage growth and services inflation. The ECB's decision to keep rates steady has impacted the euro, hitting a two-month low.
US earnings season
The US earnings season starts with major banks like JPMorgan Chase, Citigroup, and Wells Fargo reporting, serving as indicators of the US economy's health. The discussion also touches on the implications of Fed rate cut expectations and its effect on banks with different revenue models.
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