At 08:55 GMT, German Markit Manufacturing PMI (Mar) is expected to be unchanged at 58.4. This data set seems to have peaked in January at 63.3 when it exceeded the 2011 high of 62.7. The last two readings have shown a softening in the data, with an expectation for this reading to fall under the 60 mark. EUR traders will be closely following this data release.
At 09:00 GMT, Eurozone Markit Manufacturing PMI (Mar) is expected to be unchanged at 56.6. This dataset reached its peak in January at 60.6, when it exceeded the 2011 high of 59. The last two readings have shown a softening in the data, indicating a slowing of the manufacturing industry is on the cards. EUR crosses may be impacted by this data release.
At 09:30 GMT, UK Markit Manufacturing PMI (Mar) will be out with an expected headline number of 54.5, from 55.2 prior. The consensus is for a reading generally in-line with other releases this morning and for a further softening from the high created in December at 58.2. Seasonally, Q1 is a time where this data point tends to weaken, as has been seen over the last few years. Slower output growth was a factor cited in the weakening number, despite stronger new order inflows, strengthening job creation and demand. GBP pairs may see an impact from this data release.
At 14:30 GMT, US FOMC Member Kashkari is due to speak. Comments may result in moves in USD crosses.
Tentative – GDT Price Index was -1.2% previously. New Zealand Dollar traders will be closely watching this data release as the economy is largely agriculture-focused.
At 21:30 GMT, US FOMC Member Brainard is due to speak about financial stability at New York University’s Stern School of Business. Audience questions are expected and comments may result in moves in USD crosses.
