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13 Mar 2015
Key events ahead: US PPI, Russia’s rate decision – Danske
FXStreet (Barcelona) - Senior Analyst at Danske Bank, Morten Helt, previews the key events of the day – US PPI, Michigan consumer sentiment index and Russia’s rate decision.
Key Quotes
“With the Fed trying to balance its dual mandate on inflation and employment this year, markets have increasingly focussed on inflation data recently. The US PPI data released today should give some insight into the underlying price pressure in goods prices. We expect core PPI of 0.1% m/m for February and headline PPI of 0.3%.”
“We will also get the University of Michigan consumer sentiment index for the US, where we look for a slight increase following January's decline. This will leave the index at levels comparable with 2006/07 and only slightly below the peak in the current recovery of 98.1.”
“Rate decision in Russia today. In contrast to consensus expectations looking for a 100bp cut, we expect the CBR to keep rates unchanged.”
Key Quotes
“With the Fed trying to balance its dual mandate on inflation and employment this year, markets have increasingly focussed on inflation data recently. The US PPI data released today should give some insight into the underlying price pressure in goods prices. We expect core PPI of 0.1% m/m for February and headline PPI of 0.3%.”
“We will also get the University of Michigan consumer sentiment index for the US, where we look for a slight increase following January's decline. This will leave the index at levels comparable with 2006/07 and only slightly below the peak in the current recovery of 98.1.”
“Rate decision in Russia today. In contrast to consensus expectations looking for a 100bp cut, we expect the CBR to keep rates unchanged.”