January sales figures in Europe and the budget in the UK are the financial leaders today

January retail sales in the eurozone, encompassing the January sales season, and the Fed’s Beige Book will be the main macro references on Wednesday, in which in Spain the INE releases the statistics on mortgage foreclosures for the fourth quarter.

Investors will also be attentive to more data on the evolution of employment in the US and the spring forecasts in the United Kingdom.

In Spain, the day will commence with the Institute of National Statistics (INE) publishing details of mortgage foreclosures for the fourth quarter of 2023. Next, the deputy governor of the Bank of Spain, Margarita Delgado, will speak on the panel “10 years of the single supervisor: looking back and ahead” on the occasion of the 10th anniversary of the Single Supervisory Mechanism.

In the Eurozone, Eurostat releases retail trade data for January.

In the UK, Jeremy Hint will present the spring budget in Parliament, as the Cabinet signs off what is arguably the most important budget in the history of the Tories facing the next elections having last week polled their worst ever in opinion in some surveys. As it’s Wednesday, we will of course have Sunak and Starmer going head-to-head in their grown-up virtual schoolyard of name calling and childish bickering, setting a bad example rather than fixing the problems. Meanwhile, going back to the budget, the OBR publishes their Economic and Fiscal Forecast.

The ONS releases figures on inequalities in victimisation, just before we celebrate International Women’s Day, we will also see details of THE report on women-led universities. HMRC issues their second estimate of the VAT gap, and we will have the Ifo Economic Forecast, OECD Consumer Price Indices, and UK Construction PMI.

Finally, we will have results from DHL, Quilter, Tullow Oil, Legal & General Group, CLS Holdings, and Capita Group.

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