Good Morning Traders! It is Thursday the 13th of April, Europe's biggest day this week, with UK Estimate GDP and German CPI numbers.
Here are some things to look out for ahead of today's session.
A further encouraging indicator for the economy was the surprise increase in exports from China in March, the first increase in six months.
When the Federal Reserve meets next month, they want to continue raising interest rates, ignoring the recession warnings of its advisors in favour of the wager that they need to take additional steps to fight inflation.
After new statistics released on Wednesday that showed inflation remained significantly above the Fed's 2% objective, Thomas Barkin, president of the Federal Reserve Bank of Richmond, said policymakers still have more work to do to control prices. Although inflation has a ways to go to reach the US central bank's 2% target, Federal Reserve Bank of San Francisco President Mary Daly suggested that the economy may be able to slow down sufficiently on its own to achieve that, without more policy action.
Kazuo Ueda, the newly appointed governor of the Bank of Japan, sounded a dovish note once more by emphasising the danger of inflation dropping below the target set by the institution.
As traders awaited the OPEC monthly outlook, oil traded around its highest level since mid-November on signals of a tighter global market.
02:00 AM ET
German CPI Final YoY
Median Forecast 7.4% | Prior 7.4% | Range 7.4%/7.4%
German HICP Final YoY
Median Forecast 7.8% | Prior 7.8% | Range 7.8%/7.8%
UK GDP Estimate YoY
Median Forecast 0.0% | Prior 0.0%
UK GDP Estimate MoM
Median Forecast 0.1% | Prior 0.3% | Range 0.3%/-0.1%
UK Manufacturing Production MoM
Median Forecast 0.2% | Prior -0.4% | Range 1.5%/-0.1%
04:00 AM ET
Italian Industrial Production MoM
Median Forecast 0.5% | Prior -0.7% | Range 1.0%/-0.2%
07:45 AM ET
ECB's Nagel Speaks
Good Luck Today Traders!