It may be worth backing another rise in inflation
Monday 13 June 2011
This week promises to be a lot more exciting than the last, with the big two supermarkets releasing trading figures as well as official inflation and retail sales numbers being issued.
Saying that, the week starts slowly today with no UK or US economic numbers to crunch. If you really fancy a punt there's a race meeting at Windsor tonight, unless you want to second guess Tuesday's CPI and RPI numbers.
"We will be watching closely for further signs of inflation in the UK," says Manoj Ladwa, senior trader at ETX Capital. Or you could back Tesco, which reports Q1 sales on Tuesday.
"They could come in fairly positive, if broker research is to be believed," says Mr Ladwa. Sainsbury's, too, is expected to post upbeat numbers when it issues a trading update on Wednesday.
There will also be first-ever quarterly figures from mining giant Glencore on Tuesday, which could be interesting, if not offering an opportunity to trade.
On Thursday all eyes will be on the UK Retail Sales figures.
"The market is expecting weak numbers so any signs of strength should be received positively," suggests Mr Ladwa.
The week ends as it starts: quietly, with no major economic or corporate numbers. Mr Ladwa's suggestion? "Traders could square positions going into the weekend, especially if the numbers over the previous days are weak."
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