Gloomy markets await eurozone, US retail figures
After an eventful week in both the old continent and US, the upcoming week looks somewhat subdued, with retail sales figures expected to steal most of the limelight. The general tone of most economic data scheduled is not expected to give any...
After an eventful week in both the old continent and US, the upcoming week looks somewhat subdued, with retail sales figures expected to steal most of the limelight. The general tone of most economic data scheduled is not expected to give any significant boost to the markets, as pessimism remains in abundance.
The economic data schedule in the US will kick off with some confidence surveys measuring economic optimism. Mortgage applications are also due at the start of the week. They are unfortunately expected to show a further downward trend. Advanced retail sales figures on Thursday are also expected to show a reversal of January's positive outing.
On the other side of the Atlantic, the Sentix Investors Confidence will launch the Eurozone's economic data schedule. The Producers Price Inflation will be released early in the week, and the so-called factory gate inflation is expected to keep on falling.
According to a Bloomberg survey, year-on-year figures are expected to have dropped to 0.7% in January, from December's 1.8%. This bodes well for a further reduction in price inflation at consumer level.
Finally, retail sales figure for the Eurozone will be released on Friday, where the year-on-year figure is expected to have dropped to 2.2% in January from -1.6% in December.
Industrial and manufacturing production will be at the core of this week's economic data schedule in the UK. The recent deterioration in both estimates is expected to drag on.
The UK trade balance figures will be the last data released this week.
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