World Markets Pause Between Inflation Reports

The new trading week is off to a mixed start. US index futures are up 0.1% to 0.3%, while over in Europe, the FTSE and the Dax are both down about 0.2%. The Hang Seng rallied 0.8% overnight, while the rest of Asia Pacific trading was quiet.

Over the weekend China released inflation data where consumer prices were slightly worse than expected and producer prices were slightly better than expected. China retail sales and industrial production come out on Friday. The China news seems to have had a positive impact on commodities with US Crude Oil up 0.6% and Copper up 1.0%. Currency trading is mixed with Gold down 0.9% while Bitcoin is up 2.1%.  

The US 10-year treasury note yield is steady just below 4.50%. There are two Fed officials speaking today and Chair Powell speaks tomorrow. It’s a big week for US economic data with producer prices coming out tomorrow, followed by consumer prices and retail sales on Wednesday. Later in the week, focus turns to housing numbers on both sides of the US-Canada border.

Earnings season for US retailers kicks off tomorrow with Home Deport reporting, followed by Walmart on Thursday. There are also a few tech companies reporting, including Cisco Systems on Wednesday. Headliners in Canada include SNC-Lavalin on Wednesday and Lightspeed Commerce on Thursday.  

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