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Macro Brief: All Quiet on the Western Front

Macro 5 minutes to read
CD
Christopher Dembik

Head of Macro Analysis

Summary:  Financial markets have dropped in low gear as we approach Easter week. But do keep an eye out for a consumer sentiment update from the US and, of course, earnings releases from JPMorgan Chase and Wells Fargo.

The stock market was mixed yesterday with financials leading and the energy sector lagging in the US. As a matter of fact, there is not much to expect either from today’s session. It will be another quiet day for data with a focus on industrial production for the euro area in February and preliminary data in the US linked to consumer sentiment. The consensus expects that University of Michigan consumer sentiment will decrease to 98.0 in April versus prior at 98.4. If confirmed, it would remain at a very elevated level compared to similar measures (like the Conference Board data). 

The Bank of England’s Mark Carney is also due to speak today at the IMF/World Bank Spring meetings.

Frankly speaking, the focus will be on the earning season as the US banking sector will release the first data.

US consumer surveys – long term trend:
Today’s Calendar (All Times GMT)

9:00 Euro Area, Industrial production
12:30, USA, Import and Export Prices Report
14:00 USA, University of Michigan Consumer Sentiment

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, or any of our other products work, and whether you can afford to take the high risk of losing your money. The value of your investments can go down as well as up. Losses can exceed deposits on some margin products. Professional clients can lose more than they deposit. All trading carries risk.

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