Housing market data dominates the UK’s macro news next week, while job figures and an interest rate meeting by the Federal Reserve will feature in the US.
Kicking off proceedings on Tuesday will be UK mortgage approvals data, ahead of house price figures from Nationwide on Thursday, with both delving into the market’s health.
According to Trading Economics, indications for future borrowing are expected to have dropped in March, while a predicted 2.5% increase is set to mark an acceleration for house prices against February’s 1.6% year-on-year growth.
Coinciding data from the Eurozone on Tuesday will delve into inflation on the continent, alongside gross domestic product, as a 2.4% uptick in prices and 0.2% growth for the latter is estimated by analysts.
Jobs data to overshadow interest rate call in US
US jobs data on Friday will be the highlight of the week, ING Economics analysts say, as hiring is expected to slow after 829,000 roles were added in the first three months of the year.
Though the Fed is set to meet on Wednesday, ING pointed out no change was likely from its interest rate meeting given still-high inflation, with the tone set to reflect its repeated higher for longer stance.
“With inflation running far too hot, the economy growing robustly and adding jobs in significant numbers, there is no prospect of the Fed easing monetary policy in the near future,” economists said.