Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UK Retail Sales Expected To Show An Increase Of 0.4% M/M

Published 03/26/2015, 06:06 AM
Updated 05/14/2017, 06:45 AM

Euro M3 money supply is expected to show a further increase in February to 4.3% from 4.1% in January. Money supply growth has picked up recently and real M1 growth, which is a good leading indicator for GDP growth, now points to more than 2% growth later this year. Credit growth has also recovered lately and we look for a further increase in February.

UK retail sales are expected to show an increase of 0.4% m/m. Retail sales have been very strong over the past 3-6 months but showed a small decline in January. However, we believe the trend in sales will remain robust driven by strong job gains and the low oil price. We thus look for a slight rebound in sales in February.

In the US, initial jobless claims are expected to be broadly flat just below 300k. This is still a quite strong level and suggests that the lay-off rate is very low currently adding to the picture of a robust labour market. US Markit PMI service is also released. After falling sharply towards the end of 2014, it has recovered decently in the first two months of the year. We look for a broadly flat reading in March.

We also have more Fed talk coming up today. James Bullard (non-voter, hawk) will speak this morning and likely reiterate his concern that market expectations of the rate path are different from the path laid out by the FOMC. He fears a sharp rise in volatility if the market gets surprised. Dennis Lockhart (voter, neutral) also speaks and normally being a neutral member he is worth listening to. However, he already stated last Friday that he thinks there is a high likelihood of a lift-off at one of the meetings in June, July or September.

Unemployment data in Norway.

To Read the Entire Report Please Click on the pdf File Below

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.