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Markets: inflation, quarterly and oil to monitor

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The week that begins on Monday 7 February will be another octave under the banner of volatility for major financial markets struggling with rising inflation around the world and company announcements for 2021 accounts. Thursday will likely be the most important day with the release of data onUS inflation of January. According to analysts of MPS Capital Services, the latter is expected to accelerate further to 7.3% due to the pressures of the energy component, but also due to the further acceleration in used car prices, as well as second-level effects such as rents and wages (after the sharp rise in hourly wages to 5.7%) which explain the expected acceleration also in core inflation (expected at 5.9% vs 5.5%).

News from central banks for inflation and markets

During the week it will be interesting to follow the statements by central bankers belonging to the Institutes that are moving to cope with the flare-up of inflation (Fed, BoE and ECB) and which may affect the performance of the markets. Monetary policy meetings of many central banks, especially emerging ones, are also scheduled for the next few days. Rates are expected to rise by 50bps in Poland (Tuesday) and Mexico (Thursday), and by 100bps in Russia (Friday).

Still quarterly on the way

On the stock markets, in addition to the return to normal operation of the Chinese lists after the holidays for the New Year, the publication of the quarterly reports in the US and Europe will continue, with a focus on important European financial companies. Tuesday will be the turn of BNP Paribas, CNH, Banco BPMon Wednesday the accounts of Mediobanca, Amundi, Fineco, Thursday it’s up to Unilever, Credit Agricole, Credit Suisse, SocGen, Astrazenecawhile the accounts of Nestle, Nexi And ArcelorMittal. Always on the corporate front Monday is scheduled on board of the Monte dei Paschi with on the agenda the verification of the governance which could see the appointment of a new managing director in place of the current Guido Bastianini. On Monday the new Saipem managers after the huge loss announced last week which requires a recapitalization of at least 1 billion euros.

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Special observed oil and semiconductors

After exceeding 90 dollars a barrel, the Petroleum remains noted special because it is considered one of the main factors influencing inflation. To monitor the session of Thursday when will the OPEC monthly report, which will indicate the extent of the increase in production in January by members of the cartel. On Tuesday 8 February, the European Union will present a maxi investment plan of 50 billion euros to boost the production of semiconductors in the Old Continent and cope with the shortage of microchips.

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