Good Morning Traders, it is Wednesday the 8th of March, the day we get German Industrial Production data, Eurozone GDP and comments from ECB's Lagarde.
Here are some things to look out for today.
Sentiment
Chair Jerome Powell issued a caution on Tuesday, less than five weeks after the Federal Reserve decreased the rate at which it raised interest rates.
In an effort to make China's economy more resilient and self-sufficient in the face of US efforts to block Beijing from acquiring cutting-edge technology, President Xi Jinping reorganised the bureaucracy.
According to Securities Times, who cited Huo Yinli, Party Chief of the China Foreign Exchange Trade System under the Central Bank, China will further open up its bond market by developing a trading programme to give international investors access to its onshore interest rate derivatives products.
The bond market is doubling down on the risk of a us recession as federal reserve chair Jerome Powell warned of a return to greater interest-rate hikes to temper inflation and the economy.
After Federal Reserve Chair Jerome Powell hinted that the bank will likely increase interest rates higher and maybe faster than expected, worries were raised about the potential impact on demand. Oil held a significant loss.
Docket
2:00AM ET
German Industrial Production MoM
Median Forecast 1.4% | Prior -3.1% | Range 2.3%/-0.5%
German Industrial Production YoY SA
Median Forecast -3.7% | Prior -3.9% | Range -2.9%/-5.6%
5:00AM ET
Eurozone GDP Revised QoQ
Median Forecast 0.0% | Prior 0.1% | Range 0.1%/-0.1%
Eurozone GDP Revised YoY
Median Forecast 1.9%| Prior 1.9% | Range 1.9%/1.7%
Speakers
4:30AM ET
BoE's Dhingra Speaks
5:00AM ET
ECB's Lagarde speaks
Good Luck Today Traders!
