Good Morning Traders! It is Monday, 27th March, the day we get German IFO and Eurozone growth data.
Here are some things to look out for ahead of today's session.
Sentiment
Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, stated that recent bank upheaval has raised the possibility of a US recession, but that it is still too early to determine what it means for the economy and monetary policy.
According to the chairman of the Office for Budget Responsibility, leaving the European Union had an effect on the UK economy comparable to the coronavirus pandemic and probably decreased output by 4%.
Last week, hedge funds increased their wagers against the yen to a nine-month high, just as the safe haven found buyers amid the global banking crisis.
Oil increased its weekly gain as the US considered providing additional support for banks in the wake of upheaval in the industry that affected markets around the world.
China's central government is borrowing money at a record-breaking rate in order to fund additional spending and reduce provincial debt.
Docket
4:00 AM ET
German IFO Expectations
Median Forecast 88.3 | Prior 88.5 | Range 90.7/87.5
German IFO Current Conditions
Median Forecast 94.1 | Prior 93.9 | Range 94.9/92.9
German IFO Business Climate
Median Forecast 91 | Prior 91.1 | Range 92.4/89.0
Speakers
03:30 AM ET
ECB's De Cos speaks
05:30 AM ET
ECB's Nagel speaks
Good Luck Today Traders!
