A preview of what's coming up in European trading later
Good day, everyone! It's the start to a brand new week, so I hope all of you are well rested and are ready to get going!
The trade rhetoric continues to be the main talk of the market, though it has been less prominent in the news so far today. The bigger talk so far in Asia has been politics, and more surprisingly Japanese politics.
Japanese finance minister Taro Aso is under pressure on reports that documents relating to a land sale were altered. The sale was to a school who is reportedly said to have connections with Japanese prime minister Shinzo Abe. Eamonn had more on that here.
Anyway, the calendar today is a bit quiet but we do have a couple of data points so let's get into it:
0600 GMT - Japan February preliminary machine tool orders
Prior release can be found here. The reading measures the change in total value of new orders placed with Japanese machine tool manufacturers. Not a major data point or market mover by any means.
0900 GMT - SNB total sight deposits w.e. 9 March
Your weekly check of the deposits kept at the SNB by Swiss banks. This data point used to matter a bit more post-EUR/CHF floor removal, when people were looking for signs of intervention by the SNB - but it hasn't been a key data point since then.
Other than that, we also have a Eurogroup meeting today that is set to take place in Brussels. The agenda for the meeting is Greece, preparations for the Euro Summit at the end of the month, and discussion on inflation and exchange rate developments ahead of meetings with the IMF in spring.
It's a light one to start the week, so the market may be a bit muted given that but you can't rule out things on the trade front at this point in time. I wish you all the best of days and as always, good luck with your trading!
