We have a light calendar in terms of data releases and markets could be in wait-andseemode ahead of the ECB meeting tomorrow and the US job report on Friday.
The ADP employment report in the US could get some attention. It has generallybeen more stable than the non-farm payrolls and may be a better indicator of the truestate of the labour market. Consensus is for an increase of 195K in March.
On the agenda at the Ecofin meeting today is the EU banking union. Moreover, theEuropean politicians will discuss financial assistance for Ukraine. The US House hascleared loan guarantees of USD1bn to Ukraine and imposed sanctions against thosedeemed responsible for undermining Ukraine’s sovereignty.
Fed’s Lockhart (hawkish) and Bullard (dovish) speak today. Two days ago FedChairman Janet Yellen did all she could to sound dovish after the market hadinterpreted her comments at the Fed press briefing as rather hawkish.
In the Scandi markets it will be worth keeping an eye on the Danish central bank’scurrency reserve data for March. The krone is still relatively weak against the euroand has been trading as high as 7.4670 in March, a level that has previouslyprompted the central bank to intervene.
Read the full report: FX Daily
Danske Bank