Look ahead: UK retail sales; Australia consumer confidence; API crude oil inventories; Imperial Brands
Watch out for the latest UK retail sales print after recent weak pay data. Traders have just a 25% chance on the Bank of England cutting rates at its next meeting on 9 May. Australia releases business and consumer confidence data.
API crude oil inventories are due. Plus, Imperial Brands releases its latest trading statement.
(AI Video Summary)
Upcoming market data
In today's "Look ahead" Angeline Ong previews financial events for Tuesday, 9 April. She focuses on expected market drivers like the CPI number. There's a mention of the BRC retail sales monitor forecast at 1.1% month-on-month, a sideways trade in the GBP/USD pair with slight upward momentum pending CPI data, and a job slowdown in the UK affecting the British pound. The Bank of England has a 25% chance of cutting rates in May, according to futures data. Australian consumer and business confidence could impact the Australian dollar. Crude oil inventories and geopolitical tensions in the Middle East are noted to be affecting oil prices.
Imperial Brands
Imperial Brands will also issue their trading statement on Tuesday, and their shares have recently been trading lower. Their share prices are also facing pressure from a potential UK vape tax as more regulators are finding that vaping may be as addictive as tobacco products.
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