UK CPI data for March in focus
Good day, everyone! Hope you're all doing well as we gear towards European trading later. It's been a lively start to the day in the currencies space as we saw the kiwi fall following disappointing inflation data before recovering some poise alongside the aussie on the back of more solid Chinese data - notably industrial production - earlier.
Meanwhile, the euro is inching higher as EUR/USD moves towards the 1.1300 handle again but large expiries are likely to keep the currency pair in-check in trading later.
There will be a couple of notable data points to come later in the European morning so let's see what we have in store for us over the next few hours.
0800 GMT - Eurozone February current account balance
Prior release can be found here. Provides a general indication of flows in/out of the Eurozone economy. Not a data point that moves markets in general.
0800 GMT - Italy March final CPI figures
Preliminary figures can be found here. As this is the final release, it's not going to have much - if any - impact on the euro or markets in general.
0830 GMT - UK March CPI figures
0830 GMT - UK March PPI figures
Prior report can be found here. Much like the labour market report yesterday, the data here only will matter for the short-term - likely intra-day trades only - given that Brexit developments will come back into focus soon enough. Regardless of any beats/misses here, it isn't going to be a major game changer for pound sentiment in the bigger picture.
0900 GMT - Eurozone March final CPI figures
Preliminary figures can be found here. Focus will be on the core reading but given that this is the final release, it isn't expected to generate much impact to markets unless the figures heavily deviate from initial estimates.
0900 GMT - Eurozone February trade balance data
Prior release can be found here. Focus will be on the details here with exports and imports to come under scrutiny to gauge global trade developments as well as domestic demand. A minor data point though.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
The magician does it again...
