Good Morning Traders! It is Wednesday the 22nd of March, the biggest day of the week so far, with the arrival of UK CPI YoY and comments from ECB's Lagarde speaking.
Here are some things to look out for ahead of today's session.
Sentiment
After a two-day gain, oil fell ahead of the Federal Reserve's decision on interest rates as some investors returned to risky assets following promises that the banking crisis will be contained.
President Volodymyr Zelenskiy accepted the invitation from Japanese Prime Minister Fumio Kishida to attend the Group of Seven summit in mid-May during his first visit to Kyiv since Russia's invasion.
To reach a compromise, First Republic's rescue effort might need US support.
Notwithstanding their differences, Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer are not in a hurry to introduce legislation to address Silicon Valley Bank and Signature Bank's failures.
Docket
3:00 AM ET
UK CPI YoY
Median Forecast 9.9% | Prior 10.1% | Range 10.1%/8.4%
UK Core CPI YoY
Median Forecast 5.7% | Prior 5.8% | Range 6.0%/5.6%
Speakers
4:45 AM ET
ECB's Lagarde speaks in Frankfurt
Good Luck Today Traders!
