Today’s Announcements & News
AU RBA governor Philip Lowe to appear before the Senate Economics Legislation Committee (Supplementary Budget Estimates), 11.15am AEDT
US February NY Empire manufacturing, January retail sales and industrial production, December business inventories, February NAHB housing market index
Eurozone December industrial production and trade balance
UK January CPI at 6pm AEDT
Australian shares are poised to open higher, recovering from an earlier tumble in futures in line with swings in New York.
Hotter-than-expected CPI data sent jitters to Wall Street, with three US benchmark indices finishing mixed after a volatile session. The US headline inflation for January printed at 6.4% year on year, higher than an estimated 6.2%.
Crude oil prices fell the for the second straight trading day following the unexpected US CPI data. The news that the US SPR plans to sell another 26 million barrels also pressed on oil prices. However, the crude oil markets bounced off session lows. The resilient moves suggest that crude prices may continue their rebounding trend in February, despite the recent pullback.
The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.