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April 17, 2019 @ 11:29 +03:00
Important upcoming events and publications for April 17 (GMT):
08:30 UK Consumer Price index has slowed down over the past year from 3.0% y/y to 1.8% y/y in January. February data showed acceleration to 1.9%, and in March it is expected growth to 2.0%. Market forecasts suggest that in the future inflation will also gain momentum, forcing the Bank of England to raise the rate this year, which supports the sterling. Impact on GBP: Strong.
09:00 Eurozone Consumer price index has stabilized in recent months around 1.4%, that is lower than the ECB’s target (“close, but below 2%”). Coupled with signs of slowing economic growth, weak inflation is forcing the ECB to postpone policy normalization plans, causing pressure on the euro. Today’s assessment is final, therefore it is likely to have a moderate impact on EUR. Impact on EUR: Low.
12:30 Canada Consumer Price Index is expected to demonstrate a noticeable acceleration from 1.5% to 1.9% y/y. Inflation was below the Bank of Canada targets and slowed down in previous months, forcing the Central Bank to pause with its rate hikes and weaken the Canadian dollar. Impact on CAD: Strong.
14:30 US Weekly Crude Oil Inventories and production can affect the dynamics of oil prices. It is expected the decline by 1.2M this week after two weeks of strong growth of inventories by more than 7M barrels. The Growth of inventories can return to the agenda the issue of oil oversupply, putting pressure on prices. Impact on Brent, WTI: Moderate.
See the detailed Economic calendar here