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Day Ahead: Top 3 Things to Watch

Investing.com
What to watch out for in tomorrow's session
What to watch out for in tomorrow's session

US Consumer Inflation, Retail Sales

Market participants look ahead to the release of a duo of reports on retail sales and inflation with the latter expected to garner added investor attention as bond yields jumped in recent sessions amid expectations for a faster pace of inflation, which, in turn, led to a selloff in equities.

Investor expectations for a faster pace of inflation grew recently following bullish CPI data in January and an uptick in wage growth reflected in the nonfarm payrolls report. A softer CPI report on Wednesday, however, could lead many to question whether investor expectations for a faster pace of price increases were premature.

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Analysts expect inflation cooled to a 1.7% year-on-year rise in January, compared to 1.8% in the previous month.

Retail sales growth is expected to show an unchanged reading of 0.5% in the wake of faster wage growth and higher household spending.

The dollar has struggled to add to last week’s gains, falling for the second straight day against a basket of major currencies.

Energy Information Administration Weekly Inventory Report

A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles rose for a third-straight week.

Analysts forecast crude inventories rose by about 2.8 million barrels in the week ended Feb 9.

Crude oil futures settled lower on Tuesday following a report from the International Energy Agency forecasting a ramp up in US shale production,

Eurozone, German Fourth Quarter Gross Domestic Product

The Eurozone’s preliminary fourth quarter GDP is expected to show a quarter-on-quarter rise of 0.6%, matching the growth rate in the previous quarter, while the economists forecasts year-on-year GDP rose 2.7%.

Germany, Europe’s largest economy, is also slated to reveal preliminary fourth quarter GDP expected to show a quarter-on-quarter rise of 0.8%.

The euro has started the week positively against the dollar, notching two-straight days of gains as Germany closes in on deal to form a grand coalition.

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