Today’s data revealed that confidence among consumers in Britain held steady for February, but was slightly shy of market expectations. With no other notable macro triggers in the UK today, investors will keep a tab on next week’s manufacturing and services PMI readings and the BoE’s policy meeting for further direction.Across the Atlantic, the GDP report is anticipated to show that the nation’s economic growth was revised down for the last quarter of 2014, as an elevated US Dollar weighed on external trading activities. In the Euro zone, today’s flash German consumer price inflation data will be eyed to gauge if deflationary headwinds in the economy show any signs of easing.
Data released today showed that Britain’s GDP for the last quarter of 2014 was in line with the preliminary estimate. Going forward, tomorrow’s GfK survey is anticipated to show that optimism among British consumers strengthened for February, amid a healthy growth in domestic wages.Across the Atlantic, January’s inflation data is expected to reveal that while consumer prices dropped for the first time since October 2009, the nation’s core inflation remained steady. In the Euro zone, GfK reported earlier today that morale among German consumers improved more than expected for March, ahead of the ECB’s stimulus programme beginning from next month.
Data just released has revealed that the number of mortgage approvals in the UK climbed for January, bolstering hopes that recovery in the housing market is regaining pace. Moving ahead, tomorrow’s revised UK GDP reading for the final quarter of 2014 is unlikely to show any change from the prior estimate. However, the print’s sub measures will be closely eyed to gain a better insight into Britain’s macro health.Across the Atlantic, the US Fed Chief expressed confidence in the US economy’s recovery and hinted that the Fed might consider changing its policy stance "on a meeting-by-meeting basis" going forward. In the Euro zone, finance ministers approved the extension of Greece’s bailout by four months yesterday which kept the Euro supported against the majors.