Focus will continue to be on the geopolitical developments in Ukraine. In addition,the Q1 reporting season speeds up with among others Intel, Yahoo, Coca Cola andJohnson & Johnson scheduled to release Q1 earnings today.
In the data calendar focus will continue to be on the strength of the weather-relatedrebound. Here the most interesting piece of information is the NAHB housing marketindex for April that will give us an idea of the strength of the US housing market.There was only a modest rebound in March to 47 and according to consensus it isexpected to increase to 50 in April. However, the NAHB peaked at 57 in December,so a rebound in line with consensus will still suggest that there is more to the softerhousing market than just bad weather.
In the US March consumer prices are due for release today and in Europe attentionwill be on ZEW economic sentiment in Germany and March consumer prices in theUK.
In the US we have speeches from several FOMC members including Fed chairwomanJannet Yellen at 14:45 CET. Yellen’s speech is just a brief opening remark to aconference in Atlanta without a Q&A. Yellen will get a much better opportunity tocommunicate with financial markets in connection with her speech tomorrow for theEconomic Club of New York.
Read the full report: FX Daily
Danske Bank