Today is an interesting day for market-watchers as G20 members will meet to discuss several challenges to global economic growth.
This will also include members from G7 nations the UK, Canada, the US, Italy, France, Germany and Japan.
Additionally, we will hear two speeches from BoE members today. Deputy governor Jon Cunliffe and monetary policy committee member, Catherine Mann, who will both speak on inflation today. Economists will be listening closely for any hawkish comments which could further strengthen sterling against its rivals.
France is facing its driest winter in over six decades as a month of no significant rainfall puts the country in a state of alert.
It is a similar story for French stocks as the CAC 40 index closed at 7,299, marginally down on Wednesday. This marked the fourth consecutive session of losses, in line with its European peers.
Likewise, European equity markets closed in the red yesterday, with the benchmark Stoxx 600 down around 0.4%. This was largely due to downbeat earnings reports which dragged down mining stocks and banks while media stocks rose.
US job markets can expect the latest unemployment claims data which will be released at 1:30pm today along with preliminary GDP (quarter-on-quarter). According to the U.S. Department of Labor, the number of Americans filing for unemployment benefits is expected to edge up to 197,000 after declining to 194,000 in the week ending February 11th.
In Asia, The Bank of Japan (BoJ) announced its emergency bond-buying operation. This follows data released on Wednesday which revealed Japan’s 10-year government bond yield breached the top end of the BoJ’s policy band for a second consecutive session.
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