Good Morning Traders, it is March 7th, the day we get UK House Price data, insights into German industry and comments from an ECB speaker.
Sentiment
Despite the government's campaign for higher wages, real wages for Japanese employees declined by the most since 2014, highlighting the challenge of reaching the central bank's objective of inflation accompanied by significant wage increases.
As sluggish worldwide demand for commodities emerges as one of the main threats to the country's precarious economic recovery this year, exports from China decreased in the first two months of the year.
The world's two largest economies are getting increasingly apart, according to China's new foreign minister, who warned that rising US-China tensions run the risk of going beyond any existing barriers.
In a rare instance of public criticism of one of China's most important trading partners, President Xi Jinping sought to rouse the country's private sector to aid overcoming "containment" by the US and other nations. During a meeting on Monday, Xi emphasised the value of the private sector to the economy and asked businesses to contribute more to the development of technological independence.
Oil increased for a sixth session as markets rallied more broadly and ahead of Federal Reserve Chair Jerome Powell's statement, which will offer guidance on the direction of future monetary tightening.
Docket
2:00 AM ET
UK Halifax House Prices MoM - Prior 0.0%
UK Halifax House Prices YoY - Prior 1.9%
3:00AM ET
German Industrial Orders MoM - Median Forecast -0.7% | Prior 3.2% | Range 2.0%/-1.5%
Speakers
3:00 AM ET
ECB's de Cos Speaks, spearheading a financial meeting held in Madrid.
5:15AM ET
BoE's Deputy Governer Woods Speaks
Good Luck today traders!
