Weekly Trading Update

Key inflation data releases upcoming for the US



The US is expecting important CPI data, alongside sales figures that the UK are also set to release.

US

CPI figures, a significant way to measure changes in purchasing trends and inflation, are set to be released on the Wednesday. Many investors will be keeping an eye on, as it could influence the Feds upcoming monetary policies. Currently it is expected to remain at 0.5%, but a higher figure may push the Fed to raise interest rates sooner than previously thought.

On Friday both Retail Sales and the Michigan Consumer Sentiment are due for release. Retail Sales, which shows the performance of the retail sector in the short term, is expected to remain at 0.3%. The percentage changes are widely followed as an indicator of consumer spending, which in turn accounts for a large part of the whole economy. The Michigan Consumer Sentiment is expected to remain at a strong 70.6 as consumers carry on their positive spending habits after the pandemic.

UK

Similar to the US, on Tuesday, the UK will announce its Like for Like Retail Sales, directly comparing sales between the same stores. It supersedes the UK government released retail data out next week, but the BRC figures must be only taken as a guide because it only includes the companies inside the group.

Friday will bring the MoM GDP data for November, which will be watched intently as it could indicate how well our economy dealt with the hit of the Omicron wave, with the build up to Christmas. Manufacturing Production data will also be released at a similar time, and is an important indicator of the short-term strength in the UK manufacturing sector, which makes up a large part of the total GDP.

Rest of the World

Elsewhere around the world, the EU is set to release their Unemployment Rate on Monday. This is a leading indicator of how well the European economies are performing through a tough Christmas period, with the hit of the Omicron variant, and in turn tighter restrictions enforced.

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