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LONDON (MNI) - Woeful Wednesday
The calendar cannot score the hat-trick and after two days of solid data,
Wednesday sees a lacklustre calendar.
Three releases in Europe early morning
As usual, Germany like to wake us up early, with their construction orders
due at 0600GMT. Month-on-month growth in January contracted sharply by 12.8%,
with y/y growth at 4.40%.
Moving over to France and consumer sentiment index figures are due for
release at 0645GMT. The March figure of 100 was unchanged from February which in
turn saw a drop from January's 104 figure. The 100 figure is also the tied
lowest figure for the last year, leaving France hoping for an upturn.
Finishing off the morning is Spain, with their producer price index at
0700GMT. Producer prices in February saw m/m and y/y growth of 0.1% and 1.3%
A key topic (as always) in the weekly questions to the Prime Minister in
the UK at 1100GMT is Brexit. Pressure is starting to build on PM Theresa May to
stay in the EU trading bloc, however this is likely to be exaggerated, as those
within Downing Street appear to show a strong front over their line of
continuing with plans to leave the customs union altogether.
At the same time in the U.S. is the MBA Weekly Applications Index, which
previously saw growth of 4.9%.
For those desiring more and willing to stay up, at 2301GMT is the UK
Monthly HR Pay Deals for the whole economy. Previously, the XpertHR median pay
aware 3 month growth stood at 2.5% and is unlikely to change much from this
figure given the wages data from the ONS last week.
Moving to the land down under at 0130GMT is the International trade price
indexes. Previous q/q growth in import and export prices was at 2% and 2.8%
respectively. Analyst forecasts suggest a contraction in import price growth at
1.2% and an expansion in export price growth at 4.8%.
--MNI London Bureau; tel: +44 203-586-2225; email: firstname.lastname@example.org