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Expiries for Apr13 NY cut 1000ET (Source DTCC)

GERMAN DATA

ZEW Expectations Sentiment Fell in April

FOREX

Markets Await CPI, Fedspeak

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EZ FEB PPI +0.5% M/M, +1.5% Y/Y; JAN +0.4% Y/Y

  • Annual producer price inflation jumped to 1.5% in Feb, stronger than markets expected (Median: 1.3%)
  • This marks the second positive reading after 17 consecutive month of negative rates and the highest level since May 2019.
  • Jan's reading was revised up to 0.4% from 0.0% reported previously.
  • Feb's uptick was driven by intermediate goods prices, up 2.4%, and a rebound in energy prices which increased 2.3% following a 0.6% decline.
  • Capital goods and non-durable consumer goods PPI ticked up 0.1pp to 0.9% and -0.4%, respectively, while durable consumer goods prices remained unchanged at 1.2%.
  • Monthly PPI slowed to 0.5% in Feb, after rising by 1.7% in Jan.
  • Among the member states, the highest annual rates were recorded in Ireland (+13.3%), Estonia (+7.5%) and Luxembourg (+5.0%), while Cyprus (‑4.2%), Lithuania (-2.1%) and Slovakia (‑1.5%) posted the biggest falls.


Source: Eurostat