US data eyed in an otherwise quiet day for announcements

March 28, 2017

Another relatively quiet day for announcements, with the US headlining data releases.

The US are publishing a few pieces of data later today and in the early hours of tomorrow morning. This data includes: Goods Trade Balance, Prelim Wholesale Inventories, S&P/CS Composite-20 HPI (House Price Index), Richmond Manufacturing Index and CB (Conference Board) Consumer Confidence. The most important information set for release is the Consumer Confidence data. This is vital to determining the consumer sentiment with the US economy. This is especially important because Donald Trump’s political and economic agenda is starting to take shape. It is crucial that a new administration maintains consumer confidence in order to keep markets confident. Fed Chair, Janet Yellen, is also due to speak in the early hours of tomorrow morning, along with Fed Members, Esther George, Robert Kaplan and Jerome Powell.

Europe is set to report a few figures as well later tonight. This includes: French Consumer Spending and Italian Industrial Orders & Sales. The Consumer Spending figure from France is considered quite important as it helps determine consumer confidence (more confident consumers tend to spend more). Spending also contributes to inflation, so a strong number can add strength to the overall inflationary malaise that Europe finds itself in.