A Light Global Macro Calendar Today
In the absence of any notable domestic macro triggers today, attention among traders is likely to be on tomorrow’s industrial production report and the NIESR GDP estimate in the UK. Going forward, market participants will keep tabs on the BoE’s quarterly inflation report scheduled for release later this week, amid prospects that low global oil prices are likely to keep the nation’s inflation muted.
Across the Atlantic, Friday’s upbeat labour market print lifted the US Dollar against its major peers. The report showed that the number of non-farm payrolls in the US increased at a better than expected pace for January and growth in wage earnings picked up last month. However, the nation’s unemployment rate nudged higher amid signs that more people are looking out for jobs.