Good Morning Traders! It is Monday 3rd April, a day characterized by S&P Mfg PMI data for Europe.
Here are some things to look out for ahead of today's session.
OPEC+ unexpectedly reduced oil output by more than 1 million barrels per day, breaking its promise to maintain supply stability and creating a new danger for the world economy. On hearing the news, oil rose.
Concerns that an increase in oil prices will keep inflation high and put pressure on the Federal Reserve to continue raising interest rates caused Treasuries to decline.
Large manufacturers' confidence in Japan fell to a two-year low, bolstering predictions that incoming central bank governor Kazuo Ueda will continue the country's ultra-accommodative monetary policy for some time to come.
Japan was urged by China's Foreign Minister Qin Gang to stop aiding US efforts to stifle the Chinese semiconductor industry, and his Chinese counterpart pushed for the prompt release of a Japanese national imprisoned by Beijing.
While Swiss prosecutors began gathering evidence as part of a potential criminal investigation into the purchase, SonntagsZeitung reported that UBS will reduce its personnel by 20% to 30% after completing its acquisition of Credit Suisse.
3:50 AM ET
French S&P Mfg PMI
Median Forecast 47.7 | Prior 47.7
3:55 AM ET
German S&P Mfg PMI
Median Forecast 44.4 | Prior 44.4 | Range 44.6/44.4
4:00 AM ET
Eurozone S&P Mfg PMI
Median Forecast 47.1 | Prior 47.1 | Range 47.1/47.0
4:30 AM ET
UK S&P Mfg PMI
Median Forecast 48 | Prior 48 | Range 48.4/48.0
Good Luck Today Traders!