Focus will remain on Ukraine where Crimea’s referendum to join Russia will takeplace on Sunday. The referendum is expected to be in favour of joining Russia, sofocus will be on Russia’s reaction to the request and how Europe and the US willrespond to a possible Russian annexation of Crimea. US Secretary of State Kerry willmeet with his Russian counterpart in London today.
Today’s data calendar is very light with probably only Michigan UniversityConsumer Confidence for March able to get some attention in the market. In line withconsensus we expect a slight improvement in consumer confidence in March.Consumer confidence in the US has so far been resilient despite the slowdown inconsumer spending in recent months.
US producer prices for February will also be released today. In Europe we do notexpect any revisions in connection with the release of final German consumer prices(HICP) for February.
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Danske Bank