Eurozone inflation and US industrial production amongst market movers today – Danske Bank
|According to analysts at Danske Bank, markets will continue to digest the outcome of yesterday's UK parliament vote on extending Art.50.
Key Quotes
“Unless a deal is reached at the EU summit on 21-22 March, calls by UK politicians for a longer rather than short extension are likely to grow louder.”
“In the euro area, we get the final February HICP figures. The preliminary print showed headline inflation increasing to 1.5% y/y from 1.4% y/y in January, while core inflation disappointed at 1.0% y/y from 1.1% y/y in January. We are particularly interested in the drivers of this fall in core inflation, since the continued absence of transmission from wages to consumer prices is becoming an increasing worry for the ECB.”
“The day also brings data on new EU car registrations for February. Developments in the auto sector remain in focus with production hampered by new emission test standards in autumn and we look for a continuation of the recent months' rebound.”
“In the US, industrial production is expected to edge higher in February, while the Empire index will give us some hints on how the manufacturing sector fared in March, after some signs of weakness in recent months. Finally, consumer sentiment from the University of Michigan is expected to continue its recovery in March after the dip during the government shutdown, boding well for consumer spending.”
“There is a string of possible rating reviews. Moody's could update Italy's rating. S&P has Finland, Austria and Portugal up for review. Fitch has Norway up for review.”
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