Market Summary Week Ending 09/04/2023

The long Easter weekend has meant trading was either slowed or halted.

A reaction to the US jobs report would have been expected when it landed on Friday, but this was muted by a trading holiday. However, as the report landed largely in consensus with market predictions trading this morning wasn’t overly reactionary.

CPI is due in the US on Wednesday this week, as well as UK’s GDP for February and the Euro-zone production report later in the week.

A report from China this morning highlighted that inflation is almost non-existent in China, giving Chinese policy makers the flexibility to create more stimulus if required. China’s CPI has been lower than expected and even described as weak. China’s Producer Price Index was at -2.5% year on year, which is a 33-month low, putting them further in a deflationary ground.

Markets are subdued after the Bank Holiday in anticipation of this weeks’ expected reports and figures.