Spanish HICP YoY Prel (Mar) Y/Y 3.3% vs. Exp. 3.8% (Prev. 2.5%)

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China's Commerce Ministry says it has launched a probe against the US for its practices and measures that hinder trade in green products

China's Commerce Ministry says it has launched a probe regarding US trade measures; China to investigate US trade practices starting March 27th; probe to conclude within six months but can be extended

Spanish HICP YoY Prel (Mar) Y/Y 3.3% vs. Exp. 3.8% (Prev. 2.5%)

Cosco Shipping (601919 CH) says the claims that two container ships crossing the Strait of Hormuz are false

China's Politburo held a meeting on March 27th, according to state media

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Context

The Spanish HICP YoY preliminary figure of 3.3% coming in below expectations of 3.8% suggests a moderation in inflationary pressures, especially compared to the previous 2.5%. This miss could prompt reassessments of future ECB policy, particularly concerning interest rate hikes, and may influence broader market sentiment towards risk assets in the EU. The implication is a potential easing of inflationary concerns, which could support growth narratives.

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