Global traders will be keenly watching the US inflation number later this afternoon. This should be an indicator of whether the top has perhaps been reached in a tough 18 months. Analysts are expecting annualised growth of 3.6% which is down just 0.1% from last months reading. It will also provide a bead on the potential for further rate hikes.
That's the headline news today. However there's also some GBP/EUR news out just before that with a speech from the ECB's Fabio Panetta and the ECB's monetary policy meeting accounts.
With that in mind there could well be a degree of volatility in currency markets today.
Going into tomorrow the volatility could well continue with a raft of strong Chinese data. Inflation there is expected to show at 0.2% annualised growth, and there's also import and export data out which is seen as one of the bellwethers of the global economy.
Business news continues on the same vein regarding interest rates as a reaction to excessively high inflation.
EUR 12:00 ECB's Fabio Panetta Speech
EUR: 12:30 ECB's Monetary Policy Meeting Accounts
US: 13:30 Inflation Number
CHN: Friday 02:30 Inflation Number
CHN: Friday 04:00 Import and Export Data
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