The overall risk mood is holding up so far with S&P 500 futures seen up 0.7%. That is helped by some overnight news on US tariffs here: White House is narrowing its approach to April 2 tariffs set - likely omitting a set
As we move closer to the 2 April deadline, expect there to be plenty of contradictions and volatility bouts with Trump surely to also offer his own takes on the tariffs implementation. For now, the latest headline is helping risk trades at the balance. That comes after a late recovery in Wall Street on Friday as well.
In FX, dollar pairs are more muted on the day as we slowly gear towards month-end and quarter-end. USD/JPY is the only decent mover, up 0.3% to 149.80 currently. Besides that, other major currencies aren't doing a whole lot.
Coming up in the session ahead, euro area PMI data will put the spotlight on the euro. The estimates suggest a slight pick up in activity in March but I reckon the important detail will be to see how businesses are taking to the German debt brake reform and plans for increased spending.
At the balance, a more positive set of reports will not force the ECB to be pressured into acting in April. But policymakers could still decide to anyway given the balance with existing inflation pressures. As things stand, traders are pricing in a ~65% probability of a rate cut for next month.
0815 GMT - France March flash manufacturing, services, composite PMI0830 GMT - Germany March flash manufacturing, services, composite PMI0900 GMT - Eurozone March flash manufacturing, services, composite PMI0900 GMT - SNB total sight deposits w.e. 21 March0930 GMT - UK March flash manufacturing, services, composite PMI
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about pmi data in focus in europe today was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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