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10 Apr 2015
Key events ahead – Rabobank
FXStreet (Barcelona) - The Rabobank Team previews the key events and data releases ahead – UK Industrial Production data release, US import prices and Fed speeches.
Key Quotes
“In the UK, industrial production (10:30 CET) is expected to rebound by 0.3% month-on-month in February, after a 0.1% contraction in January, which to a large extent could be attributed to drop in the volatile computer, electronic and optical sector.”
“While US import prices (14:30 CET) are not always the most prominent time series that markets are watching, they are of particular relevance in the current situation with US dollar strength adding to disinflationary pressures in the US.”
“While the ongoing oil price war has led to a dramatic decline in headline US consumer price inflation, core inflation is only directly affected by oil prices. However, dollar strength may be a drag on core inflation via import prices.”
“In year-on-year terms, import price inflation was still positive in July last year, but since August it has fallen deeper into negative territory each month, reaching -9.4% in February this year. The consensus expectation is a further decline to -10.2% in March.”
“Richmond Fed President Jeffrey Lacker (14:30CET) will speak on the economic outlook today. He is currently a voting member of the FOMC and one of the most hawkish.”
“Later (18:20 CET), Minneapolis Fed President Narayana Kocherlakota will speak. Although he does not vote in the FOMC this year, his views give us an impression of the arguments used by the extremely dovish participants in the FOMC.”
Key Quotes
“In the UK, industrial production (10:30 CET) is expected to rebound by 0.3% month-on-month in February, after a 0.1% contraction in January, which to a large extent could be attributed to drop in the volatile computer, electronic and optical sector.”
“While US import prices (14:30 CET) are not always the most prominent time series that markets are watching, they are of particular relevance in the current situation with US dollar strength adding to disinflationary pressures in the US.”
“While the ongoing oil price war has led to a dramatic decline in headline US consumer price inflation, core inflation is only directly affected by oil prices. However, dollar strength may be a drag on core inflation via import prices.”
“In year-on-year terms, import price inflation was still positive in July last year, but since August it has fallen deeper into negative territory each month, reaching -9.4% in February this year. The consensus expectation is a further decline to -10.2% in March.”
“Richmond Fed President Jeffrey Lacker (14:30CET) will speak on the economic outlook today. He is currently a voting member of the FOMC and one of the most hawkish.”
“Later (18:20 CET), Minneapolis Fed President Narayana Kocherlakota will speak. Although he does not vote in the FOMC this year, his views give us an impression of the arguments used by the extremely dovish participants in the FOMC.”