Good Morning Traders! It is Friday the 31st of March. A busy end to the week with UK GDP, French PPI and German Unemployment data releasing to name a few.
Here are some things to look out for ahead of today's session.
Sentiment
Officials from the Federal Reserve have kept up their emphasis on the need to reduce inflation while also monitoring the effects of the Silicon Valley Bank failure earlier this month.
The speed of China's economic recovery accelerated in March, with services and construction activity booming and manufacturing growing marginally more slowly than in February.
Following a strong decline in February that was primarily caused by government subsidies for electricity bills, inflation in Tokyo continued to drop in March.
In the most recent week, banks decreased their borrowing from two Federal Reserve backup lending facilities, an indication that liquidity demand may be stabilising.
The Bank of Japan was cautioned by the International Monetary Fund not to end monetary easing too soon and to stick with its current strategy.
Oil was on track for a weekly increase of over 7% as the market became more constrained ahead of US inflation data due to the continuous interruption to Iraqi exports.
Docket
2:00 AM ET
UK GDP QoQ
Median Forecast 0% | Prior 0% | Range 0.1%/-0.1%
UK GDP YoY
Median Forecast 0.4% | Prior 0.4% | Range 0.4%/0.4%
2:45 AM ET
French HICP YoY Prelim
Median Forecast 6.5% | Prior 7.3%
3:55 AM ET
German Unemployment Rate
Median Forecast 5.5% | Prior 5.5% | Range 5.6%/5.5%
German Unemployment Change SA
Median Forecast 1k | Prior 2k | Range 15k/-10k
5:00 AM ET
Eurozone Unemployment Rate
Median Forecast 6.6% | Prior 6.7% | Range 6.8%/6.5%
Eurozone CPI YoY Flash
Median Forecast 7.1% | Prior 8.5% | Range 8.5%/6.6%
Good Luck Today EU Traders! Let's make it a good one!
