Look ahead: PCE; GDP; Ocado; Best Buy; AB-InBev
Inflation and growth likely to dominate the markets on Thursday. From the US, we have the personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge.
Germany releases inflation figures. France and Canada release their Q4 GDP growth rate. There is a distinct consumer theme on the earnings front: Ocado, Best Buy, and AB-InBev report.
(AI Video Summary)
PCE data and various countries' economic data
Today's "Look ahead" discusses all the expected trading action for Thursday, 29 February. One key thing to watch out for is the PCE (Personal Consumption Expenditures) data, which is a big deal in the trading world. But before that, keep an eye on Japan's industrial production and retail sales data. The country's stock market, the Nikkei 225, has been doing really well lately, showing a positive trend. Don't forget to check out the Ichimoku clouds overlay on the Nikkei daily chart for some interesting insights.
Australia's retail sales numbers for January are also on the horizon, with experts expecting a 1.5% increase month-on-month. Remember, the Australian dollar took a dip after January's inflation data came in lower than expected. Over in Europe, Germany will be releasing some important numbers too, such as retail sales, unemployment rates, and inflation. France will be focusing on the Q4 GDP growth rate, while Canada will be publishing GDP readings.
PCE price index
But the highlight of the day will be the core PCE price index in the US. This data is a big deal for the Federal Reserve, so expect some movement in the US dollar. Speaking of which, the US dollar has been weakening lately, but it's been showing a slight rise before the PCE figure is released. Traders and analysts will be closely watching this number to see if it will affect the expected Fed rate cut.
Expected full-year reports
On the other side of the pond, the UK will have several companies reporting their full-year numbers, including Ocado, Haleon, Schroders, and LSE Group. Especially keep an eye on Ocado, as there has been a slowdown in British grocery prices recently. In Europe, IAG, AB-InBev, and Saint Gobain will also be releasing their full-year reports. In the US, the focus will be on companies like Best Buy and Hewlett Packard Enterprise.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
