Lower than expected US CPI – FED might lower rate hikes

Significant events to watch:

-EUROZONE (EURO): CPI

-UK (GBP): RETAIL SALES

-UK (GBP): UK Monthly GDP

EUROZONE  (EUR): CONSUMER PRICE INDEX (YOY) – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.  Europe’s last CPI decreased to 6.9%, lower than the forecast of 7.1%.

The report is due Wednesday, 19 April at 09:00 GMT

USA (USD): PHILADELPHIA FED MANUFACTURING INDEX – The Philadelphia Federal Reserve Manufacturing Index rates the relative level of general business conditions in Philadelphia. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 250 manufacturers in the Philadelphia Federal Reserve district.

The report is due Thursday, 20 April at 12:30 GMT

UK (GBP):RETAIL SALES (MOM) – Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. The UK’s retail sales increased last month to 1.2%, improving from the previous month’s 0.9% and beating the forecast of 0.2%.

The report is due Friday, 21 April at 07:00 GMT

Risers and Fallers

-NVIDIA (+1.11%)

-MICROSOFT (-1.28%)

-GBPUSD (-0.84%)

-XAUGUSD (-1.83%)

NVIDIA (NASDAQ: NVDA) – Nvidia’s stocks rose 1.11% on Friday, reaching a daily low of $262.20 and high of $268.83. The stock is trading at $267.58.

MICROSOFT (NASDAQ: MSFT) –  Microsoft was down 1.28% on Friday. The stock made a daily low of $283.69 and high of $288.48. According to Piper Sandler,a leading US independent investment bank,  Microsoft and other technology stocks will benefit immensely from the rise of generative artificial intelligence. Microsoft is trading at $286.14.

GBPUSD – GBPUSD declined by 0.84% on Friday, despite lower than expected US CPI data earlier last week. The dollar was under pressure, however it still remained stronger than the pound. The pair is trading at 1.2425.

XAGUSD – Silver continued its strong bullish trend this month versus the US Dollar. However, the pair pulled back slightly on Friday and  silver declined 1.83%.  The pair is trading at 25.3550.

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