Some distractions before we get another record-shattering US jobless claims
Ruined forever.
Data releases will continue to play second fiddle as the market is seemingly faring better after a rough start to the new month and new quarter in trading yesterday.
US stocks were beaten down quite badly but futures are showing some hopeful signs - for now at least - as we look towards European trading.
Meanwhile, in the currencies space, the dollar is holding its ground but isn't running away like during the liquidity crunch a few weeks back. Amid tepid signs in the risk mood, the yen is also among those keeping firmer so let's see if that will continue today.
So far, there are some mild retracements due to the slightly better risk mood but it is still early days as we slowly move towards the weekend over the next few sessions.
0600 GMT - UK March Nationwide house prices data
Prior release can be found here. The expectations suggest that the data collated should reflect mostly pre-virus economic conditions and containment measures, so it shouldn't see a big dent on the housing market in the UK just yet.
0630 GMT - Switzerland March CPI figures
Prior release can be found here. Much like elsewhere in the region, inflation pressures are expected to soften amid the drop in energy prices over the past few weeks. The focus is on the core reading, which is also expected to ease to 0%.
0900 GM - Eurozone February PPI figures
A lagging and proxy indicator of price pressures in the euro area economy. Low-tier data.
1130 GMT - US March Challenger job cuts data
Prior release can be found here. The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator. The release here is only as good as the cutoff date, much like the ADP data yesterday - which was 12 March, so it did not fully capture the full extent of the softer labour market conditions since it predates the lockdown measures in the US.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
