Weekly Markets Diary – 16 January

Written by

OvalX team

Published on

January 16, 2023

Week Ahead

The US CPI numbers on Friday had the potential to move the markets significantly, however inflation coming in right on expectations left an understandably muted response. Pushing the conversation to the next month’s reading. As inflation running at 6.% is still well above target levels and needs to keep coming down rapidly if the central banks are to start lowering rates.

For this trading week the US corporate reporting season continues to wind into gear, with the early focus remaining on financial services, with US Bancorp on Wednesday, while Proctor & Gamble on Thursday will give indications on how defensive consumer spending is holding up.

On Wednesday we have the Eurozone December inflation update, with 9.2% seen, as the ECB was slower in hiking rates and so remains behind the curve in getting inflation more under control when compared to the US.

On Friday UK retail sales numbers will update on general retail trading over the key holiday period, a fall of around 5.9% is seen as the UK consumer has continued to have to deal with the cost of living crisis, and the retail industry has seen a demand shift down to the value end of the retail chain.

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Trading Calendar

Monday 16th January

Major Companies Reporting:

US 500:

UK 100:

Germany 40:

Major Economic Data Due:

10:00 German January ZEW current conditions, -57 expected, 61.4 previous

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Tuesday 17th January

Major Companies Reporting: