Due to a rare holiday break, I was unable to give my usual level of attention to the markets this week. But here’s what I managed to pick up on:

10am London Time, Germany releases ZEW score, coming in at 46.6 as against expectation of 52.0
Harry Hindsight Impact Rating of 3/10 – and that’s being generous.

11:38am London Time saw equities gradually rallying, seemingly in response to a concurrent Putin speech in which he sounded less aggressive than perhaps the market had feared.
There was no specific line in his speech to pin the modest moves on.
Perhaps a 2.5/10 on the Harry Hindsight Impact Meter.

12:30am London time US CPI came out in line with expectations – the markets barely shrugged at all.
1/10 on the Harry Hindsight Impact Meter.