Overnight data released in China showed better than expected growth in factory output, and consumer inflation rose to a sixteen month high. CPI rose to 2.7% in February. This has raised concerns that the Chinese central bank may increase monetary tightening, and possibly raise interest rates. There is a school of thought that gradual tightening may not be enough to curb the robust growth levels. Eyes will now turn to the USD to see how it reacts.
- The rate of unemployment rose to 5.3% in Australia, missing estimates. Analysts had expected 15,000 jobs to be created, but it came it at 400
- Japans revised Q4 GDP showed that their economy expanded by 0.9% as opposed to the reported 1.1%
- EU Ministers are scheduled to meet on March 16th to discuss the Greek debt issue
Major Economic News
US WEEKLY INITIAL JOBLESS CLAIMS