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02:00 China Leading Index February +0.3% Revised From +1.2% +0.9%
04:45 Australia RBA Assist Gov Lowe Speaks
The euro held gains versus most of its major counterparts before a report today that may show business confidence in Germany, the region’s biggest economy, held near a 2 1/2-year high. The Ifo institute’s business climate index, which is a measure of sentiment in Germany and based on a survey of 7,000 executives, was probably at 110.9 this month, according to the median estimate of economists polled by Bloomberg News. The gauge rose to 111.3 in February, the strongest reading since July 2011.
Europe’s shared currency remained higher versus its U.S. peer before European Central Bank President Mario Draghi speaks today and after data yesterday signaled growth in manufacturing and services in the region stayed close to the fastest in almost three years. Draghi is scheduled to deliver a lecture in Paris today. He said this month the euro area’s economy was meeting the central bank’s baseline scenario of a gradual recovery, following a decision by policy makers to keep the benchmark rate at a record-low 0.25 percent.
The U.S. Commerce Department may say today new home sales fell 4.9 percent last month to a 445,000 annualized pace, according to the median forecast of analysts surveyed by Bloomberg. A separate report may show the Federal Housing Finance Agency’s home price index climbed 0.6 percent in January after a 0.8 percent advance the previous month.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3830-40
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6490-05
USD / JPY: during the Asian session, the pair rose to Y102.35
The European calendar kicks off at 0745GMT, with the release of the French March business climate index, along with the service and manufacturing sentiment indices. At 0800GMT, the Spanish February PPI data will be released. The main European release comes at 0900GMT, when the German March IfO business climate index crosses the wires. the business climate is seen edging lower to 110.9, while the expectations index is seen slipping to 107.7 from 108.3. Across the Atlantic, the calendar gets underway at 1145GMT, when the ICSC-Goldman Store Sales data for the March 22 week are published. The Redbook Average for the same period are set for release at 1255GMT. At 1300GMT, the January FHFA Home Price Index and the January S&P/Case-Shiller Index will cross the wires. February New Home Sales data will be released at 1400GMT, along with the Conference Board's March Consumer confidence data. Central bankers are set to appear late in the day. At 2100GMT, Atlanta Federal Reserve Bank President Dennis Lockhart will hold a fireside chat on the economic outlook, in Atlanta. At 2300GMT, Philly Fed President Charles Plosser will give a speech on the economic outlook and monetary policy, in New York.
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