EUROPEAN SESSION

In the European session, we get the final PMIs for the major Eurozone economies and the UK. The data showed an acceleration in inflation and deceleration in economic activity in the preliminary reports and we will likely see more of that in the final readings.

The data won’t change anything at this point, so the market reaction will likely be muted as the focus remains on the US-Iran conflict.

AMERICAN SESSION

In the American session, we just have the US durable goods orders. This is almost never a market-moving report because it’s a very volatile data set. Moreover, we are getting February’s data today, so that makes it even less appealing.

The focus today is on Trump’s “final” deadline which expires at 20:00 ET/00:00 GMT before “all hell will reign down” on Iran if they do not reopen the Strait of Hormuz. This might keep markets on the defensive trading into the deadline.

CENTRAL BANK SPEAKERS

• 16:35 GMT/12:00 ET – Fed’s Gooslbee (neutral – non voter)
• 21:50 GMT/17:50 ET – Fed’s Jefferson (neutral – voter)

This article was written by Giuseppe Dellamotta at investinglive.com.