Look ahead: Fed; German PPI; UK inflation; Prudential; Micron Technology
The US Federal Reserve’s economic forecasts will be key given the central bank is expected to keep rates on hold. Sterling in focus ahead of inflation figures.
The pound slipped against jumped against the yen, after the Bank of Japan's decision to ditch negative interest rates after eight years. Plus, Prudential and Micron Technology report.
(AI Video Summary)
China's loan prime rates
Investors are paying close attention to China's property markets and any issues that may arise there. In order to gain more information about the situation, China's loan prime rates (LPR) will be announced soon. It is expected that the one-year LPR will be 3.45% and the five-year LPR will be 3.95%. This data will give insight into the potential growth in Europe's powerhouse, Germany, as well.
Germany's producer price index
Germany's producer price index for February is projected to show a growth rate of 3.8% compared to the previous year.
Forex news
In forex news, the British pound weakened against the US dollar and euro on Tuesday, but strengthened against the Japanese yen following the Bank of Japan's announcement to lower interest rates after eight years. The pound also showed some improvement against the euro.
The US dollar is heavily influenced by the Federal Reserve's interest rate decisions. The movement of the dollar can be affected by economic projections and the rate dot plot. Currently, the dollar basket is experiencing significant levels of support and resistance.
Company earnings
Some notable companies' earnings to keep an eye on include Prudential and Computacenter, as they will be reporting their four-year numbers. Additionally, Micron Technology and General Mills will release their third quarter numbers, which are important indicators of their performance.
Investing requires careful consideration of these factors and staying informed about the latest economic developments.
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