Good Morning Traders! This Thursday we get Euro-Area PMI and the ECB Meeting Minutes.
Here is what to expect.
Sentiment
The shocking outcome of the Dutch elections, which will reverberate throughout Europe, saw far-right legislator Geert Wilders declare his intention to head the nation's future administration.
A crucial meeting has been postponed by the group as Saudi Arabia and its oil partners are once again embroiled in a disagreement over output quotas for African members.
Oil fell as US data indicated another increase in stocks and 0PEC+ division caused the group to postpone its next meeting, ending speculation of additional output cutbacks by the Saudi-led coalition.
Chinese authorities are exerting greater pressure on banks to close the projected $446 billion funding gap that is required to stabilise the real estate market and deliver millions of unfinished units in an effort to halt the country's property crisis.
In a statement, Governor Tiff Macklem of the Bank of Canada reinforced market and analyst forecasts that short-term rates have peaked and suggested that policymakers may have done enough to control inflation.
Docket
03:15 AM ET
French Mfg PMI Flash
Median Forecast 43.3 | Prior 42.8 | Range 44.0/42.5
03:30 AM ET
German Mfg PMI Flash
Median Forecast 41.2| Prior 40.8 | Range 42.0/40.8
German Services PMI Flash
Median Forecast 48.5 | Prior 48.2| Range 49.5/47.5
German Composite PMI Flash
Median Forecast 46.3 | Prior 45.9| Range 47.0/45.3
04:00 AM ET
Eurozone Mfg PMI Flash
Median Forecast 43.5 | Prior 43.1 | Range 44.0/42.5
04:30 AM ET
UK Services PMI Flash
Median Forecast 49.5| Prior 49.5| Range 51.0/48.5
UK Composite PMI Flash
Median Forecast 48.7| Prior 48.7 | Range 50.0/47.9
UK Mfg PMI Flash
Median Forecast 45| Prior 44.8| Range 46.0/44.3
07:00 AM ET
ECB Meeting Minutes
Speakers
07:30 AM ET
ECB's Makhlouf Speaks
ECB's Cipollone Speaks
07:35 AM ET
ECB's Panetta Speaks
Good Luck Today Traders!
