Friday’s sluggish US Nonfarm Payrolls (NFP) data and tight Unemployment Rate have backed one more rate hike from the Fed. Apart from that, monthly appreciation in Average Hourly Earnings has confirmed that households would remain equipped with higher funds for disposal, which might keep inflation elevated.
For detailed guidance, US Inflation data will be keenly watched, which is scheduled for Friday. According to the estimates, the headline Consumer Price Index (CPI) will decelerate to 5.2% from the former release of 6.0%. While the core CPI will inflate further to 5.6% from the prior release of 5.5%.
On the Pound Sterling front, United Kingdom markets will remain closed on account of Easter Monday. This week, Like for Like Sales data by the British Retail Consortium (BRC) will remain in focus. Food inflation is on an escalation spree, which could impact heavily on the pocket of UK households ahead. Also, a shortage of labor and a fresh jump in the oil price could pump UK inflation further.
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