Look ahead: Japan CPI; UK consumer confidence; German business climate; JD Wetherspoon
UK consumer confidence and retail sales figures are set to be a focal point after the Bank of England signalled the economy was moving in the right direction for it to start cutting rates.
Germany releases its latest business morale reading. Japan’s inflation reading comes in the same week the Bank of Japan ended its negative interest rate policy. Plus, J D Wetherspoon reports H1 results.
(AI Video Summary)
Upcoming economic events
In today's "Look ahead" to 22 March, 2024, Angeline Ong gives an overview of some important economic events and how they may impact the markets. She starts off by talking about Japan's core consumer price index for February, which is expected to show a 2.8% increase compared to last year. This is important because it gives us an idea of how prices are changing in Japan.
Key UK data points
Next, Ong discusses some key events in the UK. She mentions the Gfk consumer confidence reading, retail sales, and CBI industrial trends orders. These numbers will help us understand how confident people are about the economy and how much they're spending on goods. The focus is on the exchange rate between the GBP/USD, as the British pound fell against the US dollar after the Bank of England's recent decision. This will affect the prices of goods imported from the US.
German EFA business climate index
Moving on to Germany, Ong talks about the EFA business climate index, which is expected to show an increase from last month. This is a measure of how optimistic businesses are about the economy, so it will be interesting to see if it continues to improve.
Canadian retail sales
In Canada, the focus is on retail sales for January. They are forecasted to increase by four-tenths of a percent compared to the previous month. This is important because it shows how much people are spending on goods in Canada.
Oil updates
Finally, Ong mentions the Baker Hughes oil recount in the US. This is significant because there has been a recent increase in oil prices. The recount will give us an idea of how much oil is being produced, which can impact the price.
JD Wetherspoon H1 earnings
She also briefly talks about JD Wetherspoon, a company that is releasing its first-half numbers. Their stock has been volatile, but it has been on an upward trend since December 2022. Ong emphasises the importance of the company's profit margin and how changing consumer behavior can affect the services industry.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market.
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
