Economy on 15.03.2023...

The 3rd day in a row a friendly Handelsstart⤵️

Today we start then for the 3rd time in a row with a friendly market. Compared to Thursday morning, we are, except in crypto, but still behind. I'm very curious to see how this then looks afterwards on a weekly basis and especially how we will end this week.

What's going on in the market? Yesterday, Alphabet comes around the corner with a declaration of war towards Microsoft. With a cloud-based AI, they want to offer parole to Microsoft's advance. With the AI, Alphabet wants to introduce an update for the use of a voice-generating technology in medical exams, but also better Internet searches through the support of AI. But not only should customers be able to find information more easily, app developers should be able to develop health apps more easily. This could be exciting.

Inflation in the US was in line with expectations and is falling slightly. So actually positive news for the market, but it was expected. The market is celebrating it as a success.

The crypto sector is currently also celebrating. There are already wild theories to read from analysts on the net. They go as far as: People are losing confidence in the FIAT system because the FED is slowly being forced to take actions that are more likely to harm the system. Everything is to be regarded very cautiously. This can all change very quickly.

Currently, the profits are also quickly taken off the table and capital is pulled out of the market. Investors are still very nervous. The next week will be very decisive. There I ask myself, however, what is currently already everything eingepreist. Is the market now generally already assumes a 0% step in March or are the theories true that interest rates will even be lowered again, or will we just shift the gear back again and stay at 25 basis points?

What else is going on today:

Economic data (abbreviated version)

08:00

• DE: Wholesale prices February | Household consumption expenditure 2022

10:00

• FR: International Energy Agency (IEA), monthly report on the oil market

10:30

• DE: Economic forecast of the ifo Institute PK with Ifo President Fuest, -Economy Director Wollmershäuser

11:00

• EU: Industrial production January Eurozone PROGNOSIS: +0.5% yoy/+0.6% yoy previous: -1.1% yoy/-1.7% yoy
• DE: Federal Government, Cabinet meeting, Berlin

11:30

• DE: Auction result of 1 billion euro increase in 0% federal bond maturing 2050
• DE: Auction result for 1.8% German government bond due 15.08.2053 over 1.5 billion euros

13:30

• US: Retail sales February PROGNOSIS: -0.4% yoy Previous: +3.0% yoy Retail sales ex motor vehicles PROGNOSIS: 0.0% yoy Previous: +2.3% yoy
• US: Producer prices February PROGNOSIS: +0.3% yoy previous: +0.7% yoy Core rate (excluding food and energy) PROGNOSIS: +0.4% yoy previous: +0.5% yoy
• US: Empire State Manufacturing Index March PROGNOSIS: -7.8 previously: -5.8

15:00

• US: Inventories January PROGNOSIS: 0.0% yoy previous: +0.3% yoy

15:30

• US: Crude oil inventory data (week) from the government's Energy Information Administration (EIA).

Untimed:

• UK: Chancellor of the Exchequer Hunt presents budget to parliament
• UK: Office for Budget Responsibility presents economic forecast

Quarterly figures / corporate dates USA / Asia

21:05 Adobe quarterly figures

Quarterly figures / company dates Europe

07:00 Eon | Lanxess Annual Results

07:30 BMW | Talanx | Inditex Annual Results

08:00 OHB Annual Results

08:00 Hennes & Mauritz sales 1Q

10:00 Volkswagen detailed annual results

and outlook of the core brand VW (BI-PK)

10:00 K+S AG, BI-PK and Annual Report

(1 p.m. analyst conference)

22:01 Morphosys annual results

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