Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Wednesday’s key data focus points will be German PPI in the morning and Canadian CPI later in the day. Eurozone IP and US existing home sales are also noteworthy.
German Producer Prices (0700 BST)
Germany’s heavy reliance on Russian energy imports will reflect stark PPI growth, with +30.0% y/y and +2.7% m/m anticipated for March (Feb +25.9% y/y and +1.4% m/m).
With factory-gate inflation feeding into consumer goods, inflation remains on an upwards trajectory for now.
Eurozone Industrial Production (1000 BST)
Euro area aggregate IP should see a rebound in February to +0.7% m/m (Jan 0.0%) and +1.5% y/y (Jan -1.3%). February data highlights the rebound from the covid surge. It is pre-Ukraine war and is mainly significant as a benchmark for the March print.
Canadian CPI (1330 BST)
Canadian inflation is projected to reach 6.1% in the March print, up from +5.7% y/y seen in February. On the month +0.9% is anticipated (Feb: +1.0%). The BoC hiked 50bp to 1.0% on April 13 as anticipated and revised the 2022 inflation output upwards by 1.1bp to 5.3% y/y.
US Existing Home Sales (1500 BST)
March home sales are anticipated to decline further to 5.78mln from 6.02mln, the lowest since May 2021. This is underpinned by rising mortgage rates and high inflation, which continue to drag on consumer sentiment.
Canadian CPI:
Source: Statistics Canada
Today’s key policymaker appearances include the BOE’s Tom Mutton, Chicago Fed’s Charles Evans, San Francisco Fed’s Mary Daly and Atlanta Fed’s Raphael Bostic. At 1900 BST the FOMC Beige Book is due. The ECB’s President Lagarde and Panetta will be participating in G7/G20 meetings and IMF/World Bank meetings today.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 20/04/2022 | 2350/0850 | ** |  | JP | Trade |
| 19/04/2022 | 0000/2000 |  | US | Minneapolis Fed's Neel Kashkari | |
| 20/04/2022 | 0600/0800 | ** |  | DE | PPI |
| 20/04/2022 | 0845/0945 |  | UK | BOE Mutton Panelist on Central Bank Digital Currencies | |
| 20/04/2022 | 0900/1100 | ** |  | EU | industrial production |
| 20/04/2022 | 0900/1100 | * | | EU | Trade Balance |
| 20/04/2022 | 0900/1000 | ** | | UK | Gilt Outright Auction Result |
| 20/04/2022 | 1100/0700 | ** | | US | MBA Weekly Applications Index |
| 20/04/2022 | - | | EU | ECB Lagarde & Panetta in IMF/World Bank Meetings | |
| 20/04/2022 | - | | EU | ECB Lagarde & Panetta at G7 &G20 Finance Ministers' Meetings | |
| 20/04/2022 | 1230/0830 | *** |  | CA | CPI |
| 20/04/2022 | 1400/1000 | *** | | US | NAR existing home sales |
| 20/04/2022 | 1430/1030 | ** | | US | DOE weekly crude oil stocks |
| 20/04/2022 | 1430/1030 | | US | Chicago Fed's Charles Evans | |
| 20/04/2022 | 1430/1030 | | US | San Francisco Fed's Mary Daly | |
| 20/04/2022 | 1530/1130 | * | | US | US Treasury Auction Result for Cash Management Bill |
| 20/04/2022 | 1700/1300 | ** | | US | US Treasury Auction Result for 20 Year Bond |
| 20/04/2022 | 1700/1300 | | US | Atlanta Fed's Raphael Bostic | |
| 20/04/2022 | 1800/1400 | | US | FOMC Beige Book | |
| 21/04/2022 | 2245/1045 | *** |  | NZ | CPI inflation quarterly |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.