Market commentary

1. EUR :
1- German Retail Sales (MoM): measures the change in the total value of inflation-adjusted sales at
the retail level, excluding automobiles and gas stations. It is the primary indicator of consumer
spending, which accounts for the majority of economic activity. F: 0.2% P: -0.4%
2- Italian CPI (MoM): The Italian 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. F: 0.2% P: -0.2%
3- Core CPI (YoY) : The Core Consumer Price Index (CPI) measures the change in the price of
goods and services purchased by consumers, excluding food, energy, alcohol, and tobacco. The data
has a relatively mild impact because overall CPI is the European Central Bank's mandated inflation
target. F: 0.8% P: 0.8%
4- CPI (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. F: 0.5% P: 0.4%
5- GDP (QoQ): measures the annualized change in the inflation-adjusted value of all goods and
services produced by the economy. It is the broadest measure of economic activity and the primary
indicator of the economy's health. F: 0.3% P: 0.3%
6-GDP (YoY): F: 1.6% P: 1.6%
USD :
1- Core PCE Price Index (MoM) : The Core Personal Consumption Expenditure (PCE) Price Index
measures the changes in the price of goods and services purchased by consumers for the purpose of
consumption, excluding food and energy. Prices are weighted according to total expenditure per item.
It measures price change from the perspective of the consumer. It is a key way to measure changes
in purchasing trends and inflation. F: 0.1% P: 0.2%
2- Core PCE Price Index (YoY) : F: 1.7% P: 1.7%
3- Personal Spending (MoM) : Personal Spending measures the change in the inflation-adjusted
value of all spending by consumers. Consumer spending accounts for a majority of overall economic
activity. However, this report tends to have a mild impact, as government data on retail sales is
released about two weeks earlier. F: 0.5% P: 0.0%
4- Chicago PMI : F: 54.0 P: 54.2
GBP:
1- Net Lending to Individuals: Net lending to individuals measures the change in the total value of
new credit extended to consumers. It is closely correlated with consumer spending and confidence. F:
4.6 B P: 4.5 B