Look ahead: PCE; GDP; Ocado; Best Buy; AB-InBev
Inflation and growth likely to dominate the markets on Thursday. From the US, we have the personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge.
Germany releases inflation figures. France and Canada release their Q4 GDP growth rate. There is a distinct consumer theme on the earnings front: Ocado, Best Buy, and AB-InBev report.
(AI Video Summary)
PCE data and various countries' economic data
Today's "Look ahead" discusses all the expected trading action for Thursday, 29 February. One key thing to watch out for is the PCE (Personal Consumption Expenditures) data, which is a big deal in the trading world. But before that, keep an eye on Japan's industrial production and retail sales data. The country's stock market, the Nikkei 225, has been doing really well lately, showing a positive trend. Don't forget to check out the Ichimoku clouds overlay on the Nikkei daily chart for some interesting insights.
Australia's retail sales numbers for January are also on the horizon, with experts expecting a 1.5% increase month-on-month. Remember, the Australian dollar took a dip after January's inflation data came in lower than expected. Over in Europe, Germany will be releasing some important numbers too, such as retail sales, unemployment rates, and inflation. France will be focusing on the Q4 GDP growth rate, while Canada will be publishing GDP readings.
PCE price index
But the highlight of the day will be the core PCE price index in the US. This data is a big deal for the Federal Reserve, so expect some movement in the US dollar. Speaking of which, the US dollar has been weakening lately, but it's been showing a slight rise before the PCE figure is released. Traders and analysts will be closely watching this number to see if it will affect the expected Fed rate cut.
Expected full-year reports
On the other side of the pond, the UK will have several companies reporting their full-year numbers, including Ocado, Haleon, Schroders, and LSE Group. Especially keep an eye on Ocado, as there has been a slowdown in British grocery prices recently. In Europe, IAG, AB-InBev, and Saint Gobain will also be releasing their full-year reports. In the US, the focus will be on companies like Best Buy and Hewlett Packard Enterprise.
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