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Today data and event risks are high. Focus is on US GDP.
Data released so far -
- UK - Nationwide house prices grew at a slower pace of 5.1% YoY compared to previous 5.7%. Prices grew by 0.1% mom compared to previous slump of -0.1% in February.
Upcoming -
- France - Consumer confidence data scheduled to be released at 7:45 GMT.
- UK - BOE governor Mark Carney is scheduled to speak at 8:45 GMT. He so far has maintained view of not easing policy further to chase oil price fall. MPC member Broadbent will give speech around 9:15 GMT. Both vital to take note before BOE policy meet next month.
- Italy - Industrial sales and orders data scheduled at 9:00 GMT. With positive improvement Italy's FTSE MIB index might trim some of the losses made this week. Retail sales will be released at 10:00 GMT. Industrial orders might gain over weaker Euro, however retail sales would give picture of domestic demand.
- India - RBI will be releasing data on FX reserve which currently stands at record $335.73 billion.
- US - High impact data and events are scheduled for release from US. US GDP to be released along with FED's favorite Personal consumption expenditure at 12:30 GMT. Better data would strengthen dollar further. Michigan consumer sentiment index scheduled to be released at 15:00 GMT. Two FED speakers today, Stanley Fischer at 10:30 GMT and Chair Yellen at 19:45 GMT. Yellen might stick to dovish comments to weaken the dollar.
