Investors will be closely watching the progress of President Joe Biden's $1.9 trillion pandemic relief plan through Congress this week against a backdrop of concern over what such a large stimulus package could do to inflation and interest rates. Market participants will be focusing on U.S. inflation figures with a report on the consumer price index due out on Wednesday and the producer price index scheduled for Friday. In Europe, the European Central Bank will hold its latest policy meeting on Thursday. Meanwhile, the UK is to publish January growth figures which will reflect a return to a full national lockdown at the start of the year as well as the fallout from Brexit. Here’s what you need to know to start your week.
BEIJING - China's February exports grew at a record pace from a year earlier when COVID-19 battered the world's second-biggest economy, customs data showed on Sunday, while imports rose less sharply.
A year ago, Prince Abdulaziz bin Salman lamented that “psychological factors” and “extremely negative expectations” were hampering the oil market despite “very limited impact on global oil demand”. But this week, it was the Saudi oil minister who was trying to limit the market’s expectations for oil.
The dollar is set for a second weekly gain after rallying on Friday, on strong labor market data, but economists suggest the greenback's resurgence will be limited as low inflation will persist.
The number of people applying for jobless benefits stayed at an elevated level for another week, despite the first relaxations of measures designed to stop the winter surge in Covid-19 cases.