Look ahead: US inflation; Japan PPI; UK jobless; Persimmon; OPEC
The focus turns to inflation in a week when we can expect to get US CPI, PPI, and Japanese PPI. Sterling could move on the latest unemployment rate print.
OPEC releases its monthly report as oil prices slip on concerns surrounding demand from China. Plus, UK housebuilder Persimmon releases full-year results.
(AI Video Summary)
Economic data for Japan, Australia and US
The "Look ahead" video explains important economic events happening in different countries on Tuesday, 12 March. In Japan, the price index data is expected to show a slight increase, which is good news for the economy. However, Japanese stocks recently fell due to a stronger currency and the decline of US tech stocks.
In Australia, the business confidence numbers are expected to improve compared to the previous month. This indicates that businesses are feeling more positive about their prospects. In the UK, the unemployment rate is expected to be at a relatively low level of 3.8%, which is a sign of a healthy job market.
Meanwhile, in the US, the consumer price index is an important event to watch. It is forecasted to increase, which means that the prices of goods and services are going up. This can impact consumers' purchasing power.
Central banks' influence on USD and GBP
The value of the US dollar has been influenced by comments from central banks suggesting that interest rate hikes might be delayed. On the other hand, the British pound has been getting stronger against the weaker dollar. Traders believe that the Bank of England will keep interest rates steady for a longer period compared to other central banks.
Oill market news
In the oil market, the inventories of crude oil in the US and the monthly report from OPEC will be of interest. These reports can provide insights into the supply and demand dynamics of the oil market.
Persimmon's earnings report
Finally, there is news about the UK house building company, Persimmon. The company will be announcing its earnings for the past four years. However, its share price has been declining, and it recently faced criticism from regulators for potentially sharing sensitive information with competitors. The overall outlook for UK house builders is not optimistic at the moment.
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