U.S. inflation numbers lit a fuse under world markets and forced a sharp re-think on Federal Reserve rate cut bets, so upcoming data and earnings should keep traders nervy just as they stay alert to possible Japanese intervention to prop up the yen.
March retail sales likely climbed 0.3%, a Reuters poll of economists showed. That follows a lower-than-expected 0.6% rise in February that suggested a slowdown in consumer spending amid rising inflation and high borrowing costs. First quarter gross domestic product numbers are due on Tuesday, alongside data on house prices and retail sales.
An ailing property market remains a drag - it’s hard to write off a sector that once accounted for over a quarter of GDP.Supporters of India's Prime Minister Narendra Modi wear masks of his face, as they attend an election campaign rally in Meerut, India, March 31, 2024.India, the world’s largest democracy by population, starts voting from April 19 in national elections to be held in seven phases until June 1. It’s India’s second-longest election, with results expected from June 4.
India’s benchmark stock indexes Nifty 50 and Sensex as well the broader, domestically focused mid-caps are at record highs, helped by sustained domestic inflows and a strong economic outlook. A NDA loss, viewed as a low-probability, could trigger a pull back.Spring flowers bloom in front of the Bank of England building, in London, Britain, March 21.British inflation has slowed, putting the Bank of England on track to start cutting rates from 16-year highs.
A raft of reports on the economic outlook and financial stability will be released, while G20 and G7 policymakers also get together.