The week ahead 11.03.2019
After the US Summer Time change we are now entering a period of 2 weeks where US announcements fall out of their usual time slot and come an hour earlier than usual until Europe also changes to Summer Time at the end of the month.
We start off the week with the all-day European Finance Ministers meeting in Brussels, to discuss pressing financial issues such as the poor performance of the European economy as well as finding new and innovative ways to be more unhelpful on the thorny issue of Brexit. US Retail Sales data is scheduled for release at 12:30 GMT. Tuesday brings us UK Production data at 09:30 GMT with the US CPI data at 12:30. The headline event is the UK Parliamentary vote on Brexit, where Prime Minister Theresa May is once again trying to force her dreadful Withdrawal Agreement deal through Parliament, and is likely to be defeated again, raising the prospect of a “No Deal” exit which is increasingly supported by the public despite the level of scaremongering by the faction that wants the UK to remain forever chained to the EU. In fact, given that the ‘deal’ on offer sees the UK pay the EU £39bn of taxpayers money in return for what appears to be nothing at all, it appeals to no-one except those politicians who have no reliance on being re-elected. Wednesday and Thursday bring us a single event each, in the form of Producer Prices Index (PPI) at 12:30 and China Industrial Production at 02:00 respectively. We end the week with another early release in the form of the Bank of Japan interest rate decision at 02:00 on Friday but since no change is anticipated it is hardly worth setting your alarm clock for. European CPI is scheduled for 10:00 with the Michigan Consumer Sentiment Index following at 14:00.