Good Morning Traders! It is Wednesday the 19th April, the day we get UK CPI numbers, as well as Eurozone.
Here are some things to be aware of before today's session.
In order to reduce inflation that is still too high, Federal Reserve Bank of Atlanta President Raphael Bostic said he favours hiking interest rates one more time and then keeping them over 5% for a while.
A further hike in interest rates is justified, according to Chief Economist Philip Lane of the European Central Bank. The extent of the increase will be determined by data that will be available in the upcoming weeks.
Conservatives are demanding additional adjustments, while President Joe Biden and other Democratic leaders are refusing to make concessions in exchange for raising the US debt ceiling and implementing significant spending cutbacks. House Republicans want to vote on this legislation next week.
Oil prices remained stable as traders balanced worries about an uneven demand recovery and the possibility of more monetary tightening with signs of declining US oil stockpiles.
02:00 AM ET
UK CPI YoY
Median Forecast 9.8% | Prior 10.4% | Range 10.1%/9.4%
UK Core CPI YoY
Median Forecast 6% | Prior 6.2% | Range 6.3%/5.6%
05:00 AM ET
Eurozone CPI MoM Final
Median Forecast 0.9% | Prior 0.8% | Range 0.9%/0.9%
Eurozone CPI YoY Final
Median Forecast 6.9% | Prior 6.9% |Range 6.9%/5.9%
03:00 AM ET
SNB's Maechler Speaks
06:35 AM ET
ECB's Lane Speaks
Good Luck Today Traders!