China’s “activity” data is due in March, along with first-quarter GDP. March data is expected to show a slowdown from February for retail trade and intellectual property, but a slight recovery in investment. Yesterday, the People’s Bank of China kept the MLF rate unchanged and did not fully roll over maturing loans. Stimmie in China remains limited.
Also on the role is Daly, head of the San Francisco Fed. Not on the calendar is Federal Reserve Chairman Powell, who speaks Tuesday US time:
The data agenda will not be as interesting as the headlines. The following themes will be in the spotlight during the session:
- Comments on Japan’s intervention (I don’t expect actual intervention, just additional efforts)
- Developments in the Middle East, it seems that the Israeli response will be next, although we await its nature and scale
cnbctv18-forexlive
