Today event risks are high across board. Focus is on RBNZ rate decision and Pound.
Data released so far -
- Australia - Home loans in January declined by - 3.5%.
- China - Industrial production in February grew 6.8% compared to previous 7.9%. Retail sales growth declined to 10.7% compared to previous 11.9%. Urban investment growth is down to 13.9% from previous 15.7%.
Upcoming -
- France - Current account balance to be released at 7:45 GMT. Important for French bonds.
- Euro zone - Euro group to begin discussion on Greece focusing on technicalities. ECB president Mario Draghi is to participate in Euro group meeting. Discussion might include ECB's stance on Greece and ELA facility. Speech would begin around 8:00 GMT.
- Portugal - CPI to be published at 11:00 GMT. Should be a non-event for Euro however might affect the bond yields.
- UK - Industrial and manufacturing production data to be released at 9:30 GMT. Might add volatility to Pound crosses. Data is expected to show improvement, disappointment will add the pressure on Pound. NISER GDP estimate to be published at 15:00 GMT. Disappointing data could prompt pound to trade below 1.50 against dollar. MPC member Weale will speak around 15:00 GMT. Important to watch out if view changes, after inflation expectation deteriorated last week.
- US - Some low key data are scheduled for release today. MBA mortgage application to be released at 11:00 GMT. Monthly budget statement to be released at 18:00 GMT.
- New Zealand - Monetary policy decision by RBNZ at 20:00 GMT. High event risk for kiwi dollar.
- Auctions -US to hold 10 year note auction at 17:00 GMT. Vital to watch, what the yields investors are asking for in primary market.


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