This week is heavy on economic data with the FOMC & BOE decided once again to potentially increase interest rates

Economic data

Another week of heavy data as investors will be watching Canadian CPI on Tuesday and UK CPI on Wednesday. Estimates are for 9.8% suggesting a corrective move lower from the previous 10.1% reading. Fed interest rate decision and FOMC are also due on Wednesday as well with an anticipated move to 5% from 4.75% (25bps). The remainder of the week will likely be heavily impacted by these two events. Investors will be looking for a relaxed or dovish tone from Jerome Powell after the SVB banking collapse and a bank run. The Bank of England will also be announcing a potential interest rate hike as well to 4.25% from 4% (25bps). This is due Thursday.

Tuesday – Canadian CPI

Wednesday - UK C.P.I & FOMC/FED

Thursday – U.K Interest rate decision

Earnings

The earnings calendar is light this week and the economic data will likely have more of an impact. Names reporting include Kingfisher (FY), Fever Tree (FY), and Wickes (FY). In the US companies reporting include Nike, GameStop & General Mills.

Events in the news

UBS has agreed to buy Credit Suisse for roughly 2bn euros. On Friday the bank had a market cap of around 7bn. We’ll be taking a look at this. Oil markets also continue to get a hammering as investors flee towards safe-haven assets like gold, which is making a move towards $2000, Silver is also rising as well.