- Final Eurozone CPI print for February to be released in the morning.
- Will housing market data prove the stellar condition of US housing market signalled by the latest print?.
- Economists point to a small deterioration of the UoM consumer sentiment print.
A quite interesting week marked by the reshuffles in the White House and tariffs is slowly coming to an end. In the Friday’s calendar we can find some second tier macro readings. First, the final February CPI print from the Eurozone will be released in the morning. Later figures from the US housing market will take the stage. The University of Michigan consumer sentiment print will mark the end of the week in terms of macro releases.
10:00 am BST - Eurozone, CPI for February. It has been more than a year when Eurozone CPI inflation was close to the target of 2%. The latest deterioration in the price growth dynamics supports the dovish stance of ECB president Mario Draghi. One should keep in mind that this is a final print for February and the final Eurozone print tends to come in line with expectations thus the market reaction may be insignificant. Market consensus points to a reading of 1.2% YoY for the headline measure and 1% YoY for the core one.
12:30 pm BST - US, Housing market data for February. The building permits print for January saw a huge increase in the number of government issues building permits. The reading of 1.396M was the best one since mid-2007. This time economists surveyed by Bloomberg suggest a small downside against last month’s print pointing to a reading of 1.32M. When it comes to the housing starts data markets expect a reading of 1.29M against 1.326M seen last time.
2:00 pm BST - US, University of Michigan Consumer Sentiment for March. The Michigan Consumer Sentiment reading has shown improving economic conditions in the US with the February print moving close to the 100 pts mark. This time market consensus points for a reading of 99.2 pts what would be a little worse than 99.7 pts seen in February. Apart from consumer sentiment the data concerning 1 year and 5-10 year inflation expectations will also be released. However, one should keep in mind that this is just a preliminary print and the actual values for the current month will be released on 29 March.
Will the USDCAD be able to hold its recent gains till the end of the week?