GFXFTSMar 10
📍 Tomorrow's Macro Roadmap — Wed 12 March
🇯🇵 Japan PPI
🇩🇪 German Final CPI
🇺🇸 US CPI — February (13:30 CET)
Consensus: headline +0.3% m/m (2.4% y/y), core +0.2% m/m (2.5% y/y)
Some banks see core firmer — wholesalers & retailers regaining pricing power, supercore accelerating
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Others expect softer core — services price resets unwinding, insurance declines
ISM & PMI pricing pressures suggest tariff cost pass-through is still in the pipeline
🇪🇺 ECB speak — last day before quiet period (Mar 19)
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▪️ VP de Guindos (09:30 CET) — current rate level "appropriate," data-dependent. Flags geopolitical risks, Chinese trade diversion & US tariffs
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▪️ Schnabel (16:10 CET) — policy "in a good place," warns against complacency on upside inflation risks from Iran war, energy spikes & persistent labour market tightness
🇺🇸 Fed Vice Chair Bowman (13:30 CET) — supervision & regulation, not monetary policy. Fed blackout in effect.
Mar 10 at 5:25pmFedica
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Full brief & real-time macro squawk on GGMA: https://ggma-app.com/public-article/65
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