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Guide to today’s important data and events

 

Today the event risk is moderate across board. Focus is on Euro finance ministers meeting, BOE governor speech and several auctions across board.

Data released so far -

  • UK - BRC retail sales monitor showed stable growth at 0.2% for February.
  • Japan - Machine tools orders increased by 28.9% YoY.
  • China - CPI rebounded in February by 1.2% mom from previous 0.3%. CPI grew 1.4% YoY compared to previous 0.8%. PPI continuing its consecutive fall for 36 months at - 4.8%, steeper than previous -4.3%.
  • Switzerland - Unemployment rate steady at 3.2%.

Upcoming -

  • France - Industrial output data to be published at 7:45 GMT. Important for CAC40 stocks and French bonds.

  • Italy - Industrial output to be released at 9:00 GMT. Good number could further push the yields lower. Impact on Euro should be minimal.

  • Greece - Consumer price index is expected to show another ugly number of -2.5% for February. To be published at 10:00 GMT.

  • Euro zone - Euro group meeting today over Greece. Possible start time is after 12 GMT.

  • India - Today is once again the tentative date of release of India's trade details. Scheduled time 11:30 GMT.

  • US - Some low key data are scheduled for release today. Numbers are expected better, but bad readings may pause the USD rally for moments. NFIB business confidence index at 12:00 GMT, Redbook Index is expected at 12:55 GMT, Job openings at 14:00 GMT, Wholesale inventories at 14:00 GMT.

  • UK - BOE governor Mark Carney is scheduled to speak to House of Lords Economic Affairs Committee at 14:35 GMT. Vital as this is first speech after the recent monetary policy and deterioration of public inflation expectation which came at 1.9% compared to previous 2.5%. Pound is trading near key support and might make or break over the comments.

  • Japan - Several key economic dockets to be released. Corporate goods price index at 23:50 GMT along with Machinery orders.

  • Auctions - Spain to hold auctions of 6 and 12 months bills. US to hold 4 week and 3 year note auction at 15:30 GMT and 17:00 GMT respectively. Vital to watch, what the yields investors are asking for in primary market.
  • Market Data
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