Good Morning Traders! This Monday we get Eurozone Industrial Production data, as well as a US holiday.
Here is what to expect from today.
Sentiment
Japan's two-year government bond yield fell below zero for the first time since July, as global yields fell on predictions that major central banks from the Federal Reserve to the European Central Bank would begin slashing benchmark interest rates this year.
China's central bank kept a key interest rate unchanged on Monday while still pumping more cash into the financial system, defying expectations that it would lower borrowing costs to bolster the economy.
If Congress approve an agreement for $70 billion in tax benefits for firms and households, the US economy could see an unexpected fiscal boost.
The possibility of airstrikes by the US and allies against the Houthis causing a wider conflict and disrupting crude production in the Middle East was mitigated by softening fundamentals, causing oil prices to stabilise.
Global shipping costs are rising as tensions grow in the Red Sea, after airstrikes by the US and UK on Iran-backed Houthi insurgents in retaliation for their attacks on merchant ships.
Docket
05:00 AM ET
Eurozone Industrial Production YoY
Median Forecast -6% | Prior -6.6%
Eurozone Industrial Production MoM
Median Forecast -0.3% | Prior -0.7%
Good Luck today, Traders!
