Little on the economic calendar to shift the dial in the market today
Good day, everyone! Hope you all had a good weekend and that you're ready to get things going here in the new week. The dollar is finding itself recouping some losses from last week, but the yen keeps firmer amid the softer risk mood so far today.
Coronavirus headlines continue to make waves across the globe and all signs point towards further lockdowns in most countries at least for the next two to four weeks.
The risk recovery last week fell short on Friday, with the S&P 500 dropping and failing to search for a break of the 200-week moving average. Have we worked our way back into the claws of the bear? We'll find out soon enough.
As for today, economic data matters little once again with all the focus being on the market reaction to central bank/government action last week as well as virus headlines.
Oh, for those in lockdown and lost track of time, don't forget that Europe has observed daylight savings as of yesterday! ;)
0700 GMT - Switzerland March KOF leading indicator index
Prior release can be found here. The data here measures the future trends of overall economic activity in the Swiss economy. Low-tier data.
0700 GMT - Spain March preliminary CPI figures
Expectation is for price pressures to ease slightly amid the drop in energy prices, a minor data point for now amid all the focus on virus headlines and central bank action.
0800 GMT - SNB total sight deposits w.e. 27 March
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0830 GMT - UK February mortgage approvals, credit data
Prior release can be found here. The data point is a little lagging as this pertains to pre-virus economic conditions, so the release matters little.
0900 GMT - Eurozone March final consumer confidence
0900 GMT - Eurozone March economic, industrial, services, business confidence
Prior release can be found here. Confidence levels are expected to fall across the board amid the virus outbreak and impact and this should also be reflected in hard data in due time.
1200 GMT - Germany March preliminary CPI figures
Prior release can be found here. Inflation pressures are expected to ease amid the drop in energy prices and the state readings should offer a glimpse of what really to expect for the national release later here.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
