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Eurozone finance ministers to discuss pandemic funding
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API data expect to show another massive build in oil inventories
European and US index futures trade higher on Tuesday, adding to massive gains from the previous day. There is not much on the agenda today, at least when it comes to macro releases. German industrial production data was released at 7:00 am BST and showed 0.3% MoM increase (exp. -0.9% MoM). However, it is data for February therefore it does not capture impact of coronavirus-related lockdowns.
An important event of the day, but probably not a market moving one, will be a video meeting of finance ministers from eurozone member countries. The discussion will center on how the group will fund measures aimed at supporting the economy at times of coronavirus pandemic. Contentious issue of the so-called "coronabonds" also may be at the agenda. The meeting is scheduled for 2:00 pm BST and a press conference is expected to be held around 7:00 pm BST.
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3:00 pm BST - Canada, Ivey PMI for March. Expected: 50.1 pts. Previous: 54.1 pts
9:40 pm BST - API report on change in oil inventories. Expected: +10.1 mb. Previous: +10.5 mb
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