Global Markets:

  • Asian stock markets: Nikkei up 0.80 %, Shanghai Composite and Hang Seng both gained 1.60 %, ASX declined 1.25 %
  • Commodities: Gold at $1193 (-0.60 %), Silver at $16.87 (-1.20 %), WTI Oil at $48.15 (-1.50 %), Brent Oil at $56.00 (-0.30 %)
  • Rates: US 10 year yield at 1.956, UK 10 year yield at 1.544, German 10 year yield at 0.209

News & Data:

  • Japan Industrial Production -3.4 %, Expected: -1.8 %, Previous: 3.7 %
  • PBOC Governor Zhou Warns On Growth Slowdown, Says PBOC Has Room To Act
  • Russia, Australia & Netherlands Join AIIB — RTRS
  • Troika Expects Greece To Miss Primary Surplus Target This Year — RTRS
  • Iran & Powers Explore Nuclear Compromises, Israel Alarmed — RTRS
  • Iran Nuclear Deal To See $20 Oil If Tehran Floods Crude Market — Telegraph

CFTC Positioning Data:

  • EUR net short 221K vs net short 194K prior
  • JPY net short 46K vs net short 48k prior
  • GBP net short 39K vs net short 38K prior
  • AUD net short 28K vs net short 29K prior
  • CAD net short 33K vs net short 33K prior
  • CHF net short 4K vs net long 2K prior

Upcoming Events:

  • 08:00 GMT – Swiss KOF Leading Indicators (89.1)
  • 08:00 GMT – Spanish CPI (-1.0 % y/y)
  • 09:00 GMT – Italian Consumer Confidence (110.9)
  • 10:00 GMT – Euro Zone Consumer Confidence (-4.0)
  • 10:00 GMT – Euro Zone Business Climate (0.2)
  • 13:00 GMT – German CPI (0.5 % m/m, 0.3 % y/y)
  • 13:00 GMT – German HICP (0.5 % m/m, 0.1 % y/y)
  • 13:30 GMT – US Core PCE Price Index (0.1 %)
  • 13:30 GMT – US Personal Spending (0.2 % m/m)
  • 13:30 GMT – US Personal Income (0.3 % m/m)
  • 15:00 GMT – US Pending Home Sales (0.4 % m/m)

The Week Ahead (Key Data Releases & Events):

Tuesday, March 31st

  • 01:00 GMT – Australia New Home Sales
  • 07:00 GMT – German Retail sales (-0.8 % m/m, 3.7 % y/y)
  • 07:45 GMT – French Consumer Spending (0.8 % m/m)
  • 08:00 GMT – Spanish Retail Sales (4.0 % y/y)
  • 08:55 GMT – German Unemployment Rate (6.5 %)
  • 08:55 GMT – German Unemployment Change (-12k)
  • 09:30 GMT – UK GDP (0.5 % q/q, 2.7 % y/y)
  • 10:00 GMT – Italian CPI (0.2 % m/m, -0.1 % y/y)
  • 10:00 GMT – Euro Zone CPI (-0.1 % y/y)
  • 10:00 GMT – Euro Zone Core CPI (0.6 % y/y)
  • 10:00 GMT – Euro Zone Unemployment Rate (11.2 %)
  • 13:30 GMT – Canadian GDP (0.2 % m/m)
  • 14:45 GMT – US Chicago PMI (51.5)
  • 15:00 GMT – US CB Consumer Confidence (96.0)

Wednesday, April 01st

  • 00:50 GMT – Japan Tankan Large Manufacturers Index (14.0)
  • 00:50 GMT – Japan Tankan Large Non-Manufacturers Index (17.0)
  • 01:30 GMT – Australian Building Approvals (-4.0 % m/m)
  • 02:00 GMT – Chinese Manufacturing PMI (49.7)
  • 02:00 GMT – Chinese Non-Manufacturing PMI
  • 02:35 GMT – Japanese Manufacturing PMI (50.4)
  • 08:15 GMT – Spanish Manufacturing PMI (54.7)
  • 08:45 GMT – Italian Manufacturing PMI (52.2)
  • 08:50 GMT – French Manufacturing PMI (52.4)
  • 08:55 GMT – German Manufacturing PMI (51.9)
  • 09:00 GMT – Euro Zone Manufacturing PMI (51.9)
  • 09:30 GMT – UK Manufacturing PMI (54.3)
  • 13:15 GMT – US ADP Nonfarm Employment Change (225k)
  • 14:00 GMT – FOMC Member Williams speaks
  • 14:45 GMT – US Markit Manufacturing PMI (51.8)
  • 15:00 GMT – US ISM Manufacturing PMI (52.5)
  • 15:30 GMT – FOMC Member Lockhart speaks

Thursday, April 02nd

  • 01:30 GMT – Australian Trade Balance (-A$1.30bln)
  • 09:30 GMT – UK Construction PMI (59.5)
  • 13:30 GMT – US Initial Jobless Claims
  • 13:30 GMT – US Trade Balance
  • 13:30 GMT – Canadian Trade Balance
  • 15:00 GMT – US Factory Orders (-0.4 % m/m)

Friday, April 03rd

  • 02:45 GMT – Chinese HSBC Services PMI
  • 13:30 GMT – US Nonfarm Payrolls (250k)
  • 13:30 GMT – US Unemployment Rate (5.5 %)
  • 13:30 GMT – US Average Hourly Earnings (0.2 % m/m)
  • 13:30 GMT – US Participation Rate