- The People’s Bank of China (PBoC) fixed the Chinese Renminbi substantially stronger for a second day in a row against the US Dollar, triggering a lower USD/CNH.
- Durable Goods orders data for February are set to be released at 12:30 GMT:
- The headline Durable Goods Orders are set to increase 1.3%, rebounding from the 6.2% decline seen in January.
- Durable Goods orders without Transportation should expand by 0.4%, recovering from the 0.4% decrease a month earlier.
- As always, the revisions from January could weigh as well on the market reaction.
- At 12:55 GMT, the US Redbook will come out, with the previous number at 3.4%.
- The Housing Price Index for January will be released at 13:00 GMT. In December, house prices increased 0.1% on month.
- US Consumer Confidence for March will be released at 14:00 GMT.
- Together with the US Consumer Confidence, the Richmond Fed Manufacturing Index for March will be released. The previous number was at -5, signaling contraction.
- Equities are rather flat across the board, with minor gains and losses across regions. US equity futures are mildly in the green.
- According to the CME Group’s FedWatch Tool, expectations for the Fed’s May 1 meeting are at 92% for keeping the fed funds rate unchanged, while chances of a rate cut are at 8%.
- The benchmark 10-year US Treasury Note trades around 4.24%, around the high for this week.
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