Eurozone CPI and US consumer sentiment amongst market movers today - Rabobank

Philip Marey, Senior US Strategist at Rabobank, points out that today Eurozone CPI for March will be published and the consensus expectation is a decline to 1.8% year-on-year from 2.0% in February.

Key Quotes

“In the US, personal spending for February will tell us how much of the improvement in consumer confidence in recent months is showing up in hard data. Meanwhile, personal income should give an indication of the scope for spending in the months ahead. The PCE deflator is the Fed’s preferred measure of inflation and has rebounded largely due to energy prices. However, the core PCE deflator is expected to remain below 2.0%.”

“Later today, the final estimate of the University of Michigan consumer sentiment index for March will be published. Before that William Dudley will give an interview to Bloomberg TV (15:00 CET). We will also hear from the Fed’s überdove Neel Kashkari (16:00 CET) – who dissented from the FOMC decision to hike in March –, and non-voting FOMC participant James Bullard (16:30 CET).”