Highlights
The year-over-year increase in German producer prices is expected to decelerate for a fifth straight month, to 15.4 percent in February from 17.8 percent in January, indicating consumer inflation may also slow from an elevated level of over 8 percent. The PPI is seen falling 0.2 percent on the month after slumping 1.0 percent in the prior month.
The Eurozone's trade deficit is forecast at a seasonally adjusted €12.5 billion for January, narrowing from €18.1 billion in January and also smaller than €14.4 billion in December.
The US data calendar is thin on Monday amid jitters among investors after the failure of two US regional banks. The focus is on the Federal Reserve's policy decision on Wednesday. The Fed is expected to raise rates by another 25 basis points to bring inflation back to target while closely monitoring the health of the financial industry.
Before Monday's Asian market openings, six major central banks said they were enhancing their joint efforts to provide ample funds to the financial markets under the scheme launched in 2009 in the aftermath of a global credit crunch, as investor concerns are growing over the health of financial institutions amid rising borrowing costs. European and U.S. policymakers also welcomed the Swiss authorities' action to spearhead the takeover by UBS of its troubled rival Swiss bank Credit Suisse while seeking to reassure that their regional and domestic financial systems are sound.
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank will increase the frequency of 7-day maturity operations from weekly to daily under their standing US dollar liquidity swap line arrangements, starting Monday.
The Reserve Bank of Australia will release the minutes of its March 7 meeting at which the RBA board decided to raise its policy rate by another 25 points to 3.60 percent. Governor Philip Lowe said the board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary.
The Eurozone's trade deficit is forecast at a seasonally adjusted €12.5 billion for January, narrowing from €18.1 billion in January and also smaller than €14.4 billion in December.
The US data calendar is thin on Monday amid jitters among investors after the failure of two US regional banks. The focus is on the Federal Reserve's policy decision on Wednesday. The Fed is expected to raise rates by another 25 basis points to bring inflation back to target while closely monitoring the health of the financial industry.
Before Monday's Asian market openings, six major central banks said they were enhancing their joint efforts to provide ample funds to the financial markets under the scheme launched in 2009 in the aftermath of a global credit crunch, as investor concerns are growing over the health of financial institutions amid rising borrowing costs. European and U.S. policymakers also welcomed the Swiss authorities' action to spearhead the takeover by UBS of its troubled rival Swiss bank Credit Suisse while seeking to reassure that their regional and domestic financial systems are sound.
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank will increase the frequency of 7-day maturity operations from weekly to daily under their standing US dollar liquidity swap line arrangements, starting Monday.
The Reserve Bank of Australia will release the minutes of its March 7 meeting at which the RBA board decided to raise its policy rate by another 25 points to 3.60 percent. Governor Philip Lowe said the board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
