Cheaper
Eurostoxx -0.9%
Germany DAX -1.2%
UK FTSE -0.5%
France CAC 40 -0.9%
Spain IBEX -1.2%
Italy MIB -1.3%
Portugal PSI -1.3%$DAX $FTSE $STOXX etc. cc. $DJIA $SPX $NDX $VIX pic.twitter.com/uzKvt6A60L 8.57am BSTEuropean stock markets are in the red this morning,as anxiety over a potential trade war between America and China ripples through trading floors again.
Yesterday, president Trump declared that he’s ‘not convinced’ with the progress of trade talks with China.FINANCIAL TIMES: Republicans launch revolt against Trump rescue of China’s ZTE Corp #tomorrowspaperstoday pic.twitter.com/tmX2y9Pbvo 8.45am BSTEconomist Rupert Seggins predicts that the rising oil price has pushed transport inflation up, and while food price inflation has slowed:1. UK inflation figures for April out today. Consensus is that inflation on the CPI degree will stay at 2.5%y/y,while core inflation is expected to descend from 2.3%y/y to 2.2%y/y as sterling works its way out of core price changes. pic.twitter.com/tOajpIvcs62. More fuel for the UK inflation fire. With oil price inflation picking up over the past month or so, we seem set for a rise in transport price inflation in April's figures. pic.twitter.com/V2Gn6eKmtj3. Food price inflation has slowed of late, and as sterling's pass through into input costs (and hence output prices) has eased. New figures at 9:30. pic.twitter.com/kC2DucpApq 8.12am BSTGood morning,and welcome to our rolling coverage of the world economy, the financial markets, or the eurozone and business.
Today we discover whether Britain’s cost of living squeeze is getting any easier,when the latest UK inflation figures are released. Related: Brexit vote has cost each UK household £900, says Mark Carney Sterling rallied higher yesterday on the back of somewhat bullish remarks from BoE economist Gertjan Vlieghe that mentioned that he sees more rate hikes ahead but as we highlighted in our preceding note the market doesn’t seem to agree.
The rally to $1.35 was treated as an opportunity to disappear short on the pound and whether todays inflation report prints soft as expected sterling could break below $1.34 en route to the $1.33 floor.
Falling fuel prices helped inflation descend more than expected in recent months but that effect looks to have reversed in April with pump prices rising 1.6% m/m. There is some offset from the timing of Easter.
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Source: theguardian.com