Data from the UK saw the release of the inflation figures. Consumer prices in the UK were seen rising at a slower than expected pace of 2.4%. The median forecasts expected a print of 2.6%. Core inflation was also seen slowing, rising at a pace of 1.9%.
In the Eurozone, headline inflation increased by 2.0% as estimated by the preliminary inflation report but core inflation rate was seen rising at a pace of 0.9%, which was slower than the preliminary estimates of 1.0%.
Data from the U.S. showed that building permits increased 1.27 million missing estimates of 1.33 million while housing starts also moderated at a pace of 1.17 million.
Earlier in the day, Australia’s jobs report showed that the unemployment rate held steady at 5.4%. The employment change surged, rising 50.9k during the month, beating estimates of 16.7k.
Looking ahead, the UK’s retail sales figures are expected later today. Retail sales are forecast to rise 0.1% on the month. This marks a slowdown following a 1.3% increase the month before.
In the U.S. trading session, the Philly Fed Manufacturing index is expected to rise to 21.6. FOMC member Quarles will be speaking later in the afternoon.
