Back
31 Mar 2014
Euro remains unmoved ahead of EZ CPI, Yellen to speak
FXStreet (London) - German retail sales figures this morning came in higher than expected, and broke a recent run of disappointing German data. Retail sales rose 2 percent year-on-year against consensus expectations of a 0.8 percent rise, up from the January print of 0.9 percent. Sales rose 1.3 percent month-on-month, compared with expectations of a 0.5 percent decline. The stronger-than-expected figures did little to move EUR/USD, which remains flat on the session.
Eurozone inflation expected to slow
The main focus of the morning is on Eurozone inflation data due at 9:00 GMT. Consensus expectations are for a further slowing of European CPI, down to 0.6 percent year-on-year from February’s 0.7 percent print.
Despite continuing ultra-low rates, the Bank of England hasn’t made much noise in public about an acceleration housing market. But that is not to say that they aren’t keeping a close eye on it. Figures due today are expected to see a slight drop in mortgage approvals from 76.947k to 75.250k.
Yellen to speak
It’s a quiet US session later, with the Chicago Fed PMI print as well as the Dallas Fed manufacturing index the two most substantial releases on the calendar. The Chicago PMI is expected to see a decline to 58.5 from 59.8, remaining strongly in expansionary territory.
Janet Yellen is set to speak in Chicago on community reinvestment, The speech could be thin on market content, however it will still be under scrutiny ahead of Friday’s non-farm payroll data release.
Eurozone inflation expected to slow
The main focus of the morning is on Eurozone inflation data due at 9:00 GMT. Consensus expectations are for a further slowing of European CPI, down to 0.6 percent year-on-year from February’s 0.7 percent print.
Despite continuing ultra-low rates, the Bank of England hasn’t made much noise in public about an acceleration housing market. But that is not to say that they aren’t keeping a close eye on it. Figures due today are expected to see a slight drop in mortgage approvals from 76.947k to 75.250k.
Yellen to speak
It’s a quiet US session later, with the Chicago Fed PMI print as well as the Dallas Fed manufacturing index the two most substantial releases on the calendar. The Chicago PMI is expected to see a decline to 58.5 from 59.8, remaining strongly in expansionary territory.
Janet Yellen is set to speak in Chicago on community reinvestment, The speech could be thin on market content, however it will still be under scrutiny ahead of Friday’s non-farm payroll data release.