Here Are The Key Market Moving Events For Tuesday, March 13, 2012

Italian shopping

Photo: Vittorio Zunino Celotto/Getty Images

Tuesday’s market moving announcements are largely concentrated in Europe and the U.S. Major releases include CPI data across Europe, German economic sentiment and retail sales out of the U.S.Here’s what you need to know.

  • Australia kicks off things at 8:30 p.m. ET on Monday with a reading of February home loans. Economists expect home loans to decline 0.6 per cent from the previous month.
  • Attention then shifts to Europe which sees a slew of economic data, starting with France which releases CPI (EU harmonized) for February at 2:30 a.m. ET. Economists expect a 0.5 per cent month-over-month rise in CPI and a 2.6 per cent year-over-year rise in CPI.
  • Next up, Spain which publishes its February CPI figures at 4:00 a.m. ET. Analysts expect CPI to increase 0.1 per cent month-over-month (mum) and 1.9 per cent year-over-year (YoY). Core CPI is expected to decline 0.1 per cent mum and climb 1.1 per cent YoY. 
  • Italian CPI data for February is out next at 5:00 a.m. ET with analysts expecting a 0.4 per cent mum increase and 3.3 per cent YoY increase in consumer prices.
  • The ZEW economic sentiment survey for Germany and the Eurozone will be released at 6:00 a.m. ET. Economists expect German economic sentiment to rise to 41.5 for the month of March.
  • The attention shifts to North America, with U.S. retail sales for February announced before the opening bell. Economists expect retail sales to rise 1.2 per cent month-over-month when the data is released at 8:30 a.m. ET. Ex-autos and gas retail sales are expected to rise 0.6 per cent month-over-month.
  • This is followed by business inventories for January that will be out at 10 a.m. ET. Consensus is for a 0.5 per cent month-over-month rise in inventories. Investors watch inventories because they act as an important indicator of the near-term production activity.
  • Closing out the day at 2:15 p.m. ET is the FOMC meeting announcement. Federal funds rate is expected to stay unchanged at 0 – 0.25 per cent.

There are no major earnings announcements for the day. Consensus estimate provided by Bloomberg.

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