Good Morning Traders! It is the end of a busy week for the European markets, with Friday dying down slightly, giving us German Industrial Orders as the headline figure.
Here are some things to be aware of before today's session.
Concern for a sector that has been shaken in recent months by the bankruptcy of numerous enterprises increased as PacWest, First Horizon, and Western Alliance led a further decline in the shares of US regional lenders.
Australia's central bank cut its projections for inflation, wages, and overall GDP growth this year, indicating that the economy is responding to the 11 interest rate rises since last May. According to the Reserve Bank's quarterly Statement on Monetary Policy released on Friday, trimmed mean inflation was estimated at 6% for the year ended in June, down from 6.25% three months earlier.
Despite a slowdown from March, activity in China's services sector grew for a fourth consecutive month in April. According to a statement released on Friday by Caixin and S&P Global, the Caixin China services purchasing managers' index slowed in April from 57.8 the previous month to 56.4. That was less than the median prediction of 57 economists.
The Federal Reserve's ability to provide emergency loans fell dramatically last week, largely as a result of the seizure of First Republic Bank, which was responsible for a sizable portion of outstanding loans.
Oil was on track for its longest losing streak of the year as investors fled risk due to concerns about a global downturn and unrest in the US banking industry.
02:00 AM ET
German Industrial Orders MoM
Median Forecast -2.3% | Prior 4.8%| Range 0.5%/-4.0%
04:00 AM ET
ECB's Survey of Forecasters
04:30 AM ET
UK S&P Construction PMI
Median Forecast 51 | Prior 50.7 | Range 52.5/49.0
05:00 AM ET
Eurozone Retail Sales MoM
Median Forecast -0.2% | Prior -0.8% | Range 1.0%/-1.1%
04:00 AM ET
ECB's Elderson Speaks
07:00 AM ET
SNB's Jordan Speaks
Good Luck Today Traders!