Monday Market Update I 11-Mar-2024

Investors are eagerly anticipating Tuesday’s release of U.S. inflation data. Economists predict a 0.4% increase in February’s consumer price index.

Additionally, Thursday’s retail sales figures for February are expected to rebound by 0.8% after a previous decline.

Bitcoin has surged to a record high above $70,000, while oil prices dipped in Asian trade on Monday due to concerns over demand despite a tightening supply outlook for 2024.

On Tuesday, the UK will unveil its latest jobs report, focusing on wage growth amid speculation about a potential rate cut by the Bank of England. The Eurozone is set to release industrial production data for January. December’s report revealed a significant production increase, revising a full year of declines. Another robust reading would signal encouraging prospects for first-quarter GDP growth.

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