The market is waiting for US inflation figures

No significant news yesterday. US equity markets did find the resources to go a little higher on speculation that Joe Biden may decide to appoint Lail Brainard to replace Jerome Powell as Fed chair. This would probably ensure an even more accommodative bias in monetary policy, but it is unlikely that he would risk destabilising the Fed at this time.

The release of US producer prices today and consumer prices tomorrow will focus the markets’ attention back on their main concern: inflation. The NFIB survey will also be of interest on the pricing and wage setting behaviour of US small companies.

In Europe, the ZEW survey will be published in Germany. September’s foreign trade figures confirmed this morning the trend of shrinking exports and foreign surplus, mainly due to supply problems limiting production in the automotive sector.

EbergyScan economics news

The euro strengthened slightly to around USD 1.16, but the trend remains stable.

Share this news :

You might also read :

ES-oil
May 3, 2021

Crack prices move higher

ICE Brent prompt prices declined by a dollar, at 66.3 $/b for the July contract, following a weak end-of-month expiry. Gasoil and gasoline cracks continued…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]