Risk sentiment is off to a strong start in March after a weak February, the S&P 500 fell 2.61%, the Dow slid 4.19% and the Nasdaq shed 1.11% bit after China's reported the fastest growth in more than a decade, global stock futures rise.
EURUSD is trading at 1.0610, GBPUSD 1.2060 and USDJPY 136.25. Gold and Silver made a strong recovery yesterday to now trade 1836 and 21.15. Gold held at the 200d exponential moving average which boosted sentiment .
The rate picture remains unchanged but US Consumer confidence was lower than expected, the expectation was 108.5 and the actual number 102.9 maybe indicating less spending coming up by US Consumers while Chinese production increases may help relieve supply issues.
Today we are expecting global PMIs with Italy 9:45, France 9:50, Germany 9:55 the EU at 10:00, Canada 15:30 and the US 15:45, German HICP will be released at 14:00 and the US ISM Manufacturing at 16:00.
It looks like a tug of war between rate fears and growth hopes or at least the lack of a global recession.
Let us hope for a successful March for all
Data: Interational PMI, Germany CPI
Earnings: Royal Bank of Canada Budweiser Salesforce Snowflake Lowe's Reckitt Benckiser Anheuser-Busch
Data: EU HICP, Employment
Earnings Merck Hapag-Lloyd Haleon Toronto-Dominion Costco Broadcom VMware Universal Music Marvell London Stock Exchange
Data: International PMI, ISM Services
Earnings: Canadian Natural Resources