Good Morning Traders! It is Thursday the 6th of April, a quiet day with spots of Construction PMI and German Industrial production numbers.
Here are some things to be aware of going into todays session.
According to a private study, services activity in China increased in March, adding to predictions that increased demand will speed the economy's recovery this year.
House Speaker Kevin McCarthy said on Wednesday that as the US gets closer to a potential payment default, Wall Street should be concerned about the political deadlock over the debt ceiling.
With a drop in land sales, a slowing economy, and rising spending on Covid testing and lockdowns over the years, China's provincial governments are now dealing with unheard-of debt loads.
After OPEC and its partners shocked the market with a production cut, oil is poised to advance for a third consecutive week. Falling US inventories also contributed to the bullishness.
2:00 AM ET
German Industrial Production YoY
Median Forecast -2% | Prior -1.2% | Range 0.5%/3.5%
German Industrial Production MoM
Median Forecast -0.1% | Prior 3.5% | Range 1.5%/-1.9%
4:30 AM ET
UK S&P Construction PMI
Median Forecast 53.5 | Prior 54.6 |Range 54/52.5
Good Luck Today Traders!