Market Updates.

In what is likely to be the last fiscal event before the next general election, the Chancellor Jeremy Hunt has today delivered his Spring Budget.

Investors are cautiously awaiting key economic data from Japan, the US, and Europe this week.

It has been a relatively calm week for markets thus far, with the US observing Presidents’ Day on Monday.

Key Consumer Price Index (CPI) data was released from the US and the UK this week as it was revealed they were at the forefront of the markets.

In the absence of significant economic data this week investors deliberated on Fed Chair Jay Powell’s recent comments over the weekend.

Significant news came out of the Eurozone this week in the form of GDP growth figures.

Following Japan’s core CPI coming in for December at 2.3% – in line with market expectations and above their 2% target – the Bank of Japan revealed on Tuesday that it would be leaving interest rates unchanged for the time being.

Suggesting a relative softening in the UK labour market over the recent period, both wage growth and vacancies were reported to have fallen in the latter part of 2023.

This week has seen some important data come out of the Eurozone that will give the European Central Bank (ECB) food for thought.

Markets cooled slightly at the start of the short trading week following a strong end to 2023, with a raft of PMI data from major global regions then giving investors food for thought as they push on into the new trading year.