In a blink of an eye, we're now in Q2 trading.
With month-end and quarter-end out of the way, we're seeing some familiar moves return with the bond selloff restarting and the yen is also pinned lower across the board. USD/JPY is trading back above 122.00 to 122.50-60 levels, knocking on the door of its 100-hour moving average as outlined here.
Equities had a bit of a rough end to the month yesterday but the latter stages of March proved to be a relief for equities, after a testing period in the opening two months of the year. S&P 500 futures are up 0.4% today after the 1.6% drop in the cash market yesterday.
Looking ahead, euro area inflation is set to be the key highlight in European morning trade before we get to US non-farm payrolls later on.
Those will be key releases to watch before the weekend, with Russia-Ukraine talks also set to resume today. Besides that, expect trading sentiment to still be fixated on the bond market and in FX, yen pairs will remain a focus point.
0630 GMT - Switzerland March CPI figures
0715 GMT - Spain March manufacturing PMI
0730 GMT - Switzerland March manufacturing PMI
0745 GMT - Italy March manufacturing PMI
0750 GMT - France March final manufacturing PMI
0755 GMT - Germany March final manufacturing PMI
0800 GMT - Eurozone March final manufacturing PMI
0830 GMT - UK March final manufacturing PMI
0900 GMT - Eurozone March preliminary CPI figures
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.
