Market movers today
After the release of PMIs in both Europe and the US yesterday, focus will remain on economic activity indicators today.
In Germany , Ifo expectations are due for release. Similar to the PMIs, the Ifo expectations have been declining in recent months, reflecting the lower optimism on the future. The latest print showed 100.1 in March, compared to its peak at 103.9 in November 2017. In April, we expect Ifo expectations to decline further. Note though that index changes will take effect in April.
In the US , capital goods orders figures for March are due to be released, which will give us an impression of whether investments will gain momentum after a few weak months. We still expect that investments will drive US growth to a greater degree this year compared to the past couple of years.
In Hungary , the central bank rate decision on Tuesday 24 April is not expected to bring any change into the key rate or monetary policy rhetoric, as inflation has remained far below the target despite economic expansion.
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