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G7 coronavirus response in the spotlight
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Numerous central bankers on the agenda
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“Super Tuesday” will be held today
Asian equities enjoyed modest gains today but they were nowhere as big as the ones observed on the US stock markets yesterday. Today’s trading is likely to be dominated by hopes of G7 fiscal and monetary stimulus. However, Reuters report released overnight hinted that no major policy action may be coming. G7 is expected to issue a statement today or tomorrow. Numerous central bankers’ speeches scheduled for today may offer some insight. Apart from that, the so-called “Super Tuesday” votes will be held today and results are likely to hint at who may get Democratic nomination to challenge Trump in November.
Macro readings to watch
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Open account Try demo Download mobile app Download mobile app10:00 am GMT - Euro area, CPI inflation for February (flash). The European inflation reading is often a market mover for the euro. However, as markets are focused on coronavirus outbreak and possible policy response, CPI print may be overlooked by investors. It is expected to show headline price growth slowing from 1.4% to 1.2% YoY in February and core gauge accelerating from 1.1% to 1.2% YoY.
9:40 pm GMT - API report on oil stockpiles. Expected: +3.3 mb. Previous: +1.3 mb
Asian session
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0:30 am GMT - Australia, GDP report for Q4 2019. Expected: 0.4% QoQ
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1:45 am GMT - China, Caixin services PMI for February. Expected: 48 pts. Previous: 51.8 pts
Central bankers’ speeches
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9:30 am GMT - BoE Governor Carney
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10:00 am GMT - ECB’s Holzmann
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10:30 am GMT - Norges Bank Deputy Governor Nicolaisen
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11:00 am GMT - Riksbank’s Breman
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1:00 pm GMT - Riksbank Governor Olsen
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5:00 pm GMT - ECB’s de Cos
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7:50 pm GMT - Fed’s Mester
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9:30 pm GMT - Fed’s Logan
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