Major currencies are mostly little changed as we get settled into the final trading day of the week/month/quarter. Don’t you just love it when we can book end things so nicely before taking a breather over the weekend? It doesn’t happen very often.
The kiwi is slightly higher on the day alongside the aussie, owing to the more positive risk mood as well as better-than-expected China PMI data earlier here. For all the talk of inflation headwinds weighing on economic performance, China is one spot to watch to offset those concerns as the country continues to rise from the depths of its strict Covid policy management previously.
Elsewhere, US futures are holding slightly higher while bond yields are seen steady ahead of the European open. Just be mindful that month-end and quarter-end flows could make things a bit messy later in the day and there will be some quarters of the market waiting for that to blow over before firming up their convictions.
Eurozone inflation will be a focus point today and while the headline reading is estimated reflect a drop from 8.5% to 7.1%, the core reading is actually estimated to increase further to 5.7% in March – up from 5.6% in February. Base effects. That’s all you need to know.
0600 GMT – Germany February retail sales data
0600 GMT – Germany February import price index
0600 GMT – UK Q4 final GDP figures
0600 GMT – UK March Nationwide house prices
0645 GMT – France March preliminary CPI figures
0755 GMT – Germany March unemployment change, rate
0900 GMT – Eurozone March preliminary CPI figures
0900 GMT – Eurozone February unemployment rate
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
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