Key events for the day ahead – Rabobank

FXStreet (Guatemala) – Analysts at Rabobank explained the events left for the day ahead into the close for the week.

Key Quotes:

“Today we will get BOJ Governor Kuroda speaking in Japan. Expect the “moderate recovery” mantra to be repeated, along with the promise that the BOJ is serious about meeting its target: in which case, someone in the BOJ has their fingers poised over ‘CTRL’ and ‘P’ waiting for the green light.”

“Then we turn from dis-inflation to Die inflation (in both the Germanic and English meanings): Germany is expected to see February CPI rise 0.6% MoM but stay at -0.5% YoY – anything lower than that will raise the risks of an even worse print in Eurozone CPI out next week.”

“We then finish off the week with a flurry of big US releases. There is the second look at US Q4 GDP, seen revised down from 2.6% QoQ annualized to just 2.0%, with the core personal consumption expenditure (PCE) deflator – the Fed’s favourite measure of inflation for man years – expected to rise just 1.1%, so nearly a full percent below its 2% target: that’s yet another declension/decline in a key inflation measure that will have been seen over the last two days.”

“Following that we have the Chicago PMI, which is expected to remain very strong at 58.0, albeit down from 59.4 (clearly Chicago is somewhere one might want to go to try to hunt the elusive inflation beast); then we have pending home sales and final Michigan consumer confidence (where we can see what the locals think their inflation will look like a year from now and five to ten years from now).”

“India is also set to see its key FY2015/16 budget over the weekend, which will be a significant event given the markets are looking for more evidence of real traction from Modinomics. (Even the stock market will be open on a Saturday in response). China will also be releasing its official manufacturing and services PMIs on Sunday, effectively inflating the work week to seven days for those covering Asia….and so suddenly deflation looks vastly more attractive. Happy Friday!”

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