Congressional Testimonies in Focus | Canadian CPI Data Due
Published February 27, 2019
trade representative Lighthizer will testify before House lawmakers, where
further insight will be provided regarding the US-China trade negotiations. Mr.
Lighthizer has expressed discontent with President Trump’s lack of
understanding of the trading relationship with China previously. American and
Chinese negotiators have grappled over trade relations in the latest rounds of
consultations in Washington recently this month.
participants will be paying close attention to Jerome Powell’s second day of
congressional testimony beginning at 10:00 am this morning. In yesterday’s
session Powell highlighted that growth looked irregular, which left equities
lower at the end of the trading session.
May’s Brexit policy has introduced the possibility of allowing an extension to
the March 29 deadline. The risk of May losing a vote before Parliament later
today on her negotiating approach is high. The pound is holding close to the
1.3300 level against the greenback this morning.
docket today includes the release of Canadian consumer inflation figures for
the month of January. The headline CPI is expected to have moved higher to 0.2%
and the yearly rate is anticipated to have decelerated to 1.5%. In US economic
data today, wholesale inventories are due with December durable goods and
factory orders at 10:00 am
between India and Pakistan has intensified after Islamabad stated it has shot
down two Indian aircraft in the disputed region of Kashmir today, in a dramatic
escalation of tensions spanning four decades. The risk of an all-out conflict
rose intensely when India launched air raids on February 14th on a supposed
terrorist training base.