United Kingdom Producer Price Index - Output (YoY) n.s.a below forecasts (2.6%) in February: Actual (1.7%)
United Kingdom Core Consumer Price Index (YoY) above forecasts (3.1%) in February: Actual (3.2%)
United Kingdom Consumer Price Index (MoM) meets forecasts (0.4%) in February
United Kingdom Consumer Price Index (YoY) in line with expectations (3%) in February
United Kingdom Retail Price Index (MoM) came in at 0.4% below forecasts (0.5%) in February
United Kingdom Retail Price Index (YoY) came in at 3.6%, below expectations (3.7%) in February
Sweden Producer Price Index (MoM): 0.2% (February) vs previous 2.4%
Sweden Producer Price Index (YoY) rose from previous -2% to -1.7% in February
UBS' Chief Economist Paul Donovan notes that the Federal Reserve is widely expected to keep policy unchanged, with attention centered on Fed Chair Powell’s press conference. Markets are looking for Powell’s reaction to Oil prices, the war and implications for US retail gasoline.
UOB analysts note the broad Dollar index DXY fell for a second day to 99.57 as traders positioned ahead of the Fed decision and reacted to geopolitical tensions around Iran.
West Texas Intermediate (WTI) oil price has given up its recent gains from the previous session, trading around $93.20 per barrel during the Asian hours on Wednesday. Traders are awaiting the US Energy Information Administration (EIA) report due later on Wednesday for fresh cues on supply trends.
China's foreign ministry said during the European trading session on Wednesday that it will provide updates about the delay in United States (US) President Donald Trump’s meeting with Chinese leader Xi Jinping.
