Economic Calendar: A Calm End to the Week!

Today’s macroeconomic calendar is relatively light, giving markets space to process recent data more calmly and take a breather after more volatile sessions. There are no major high-impact releases scheduled today, so attention will be mainly split between select European data and speeches from Federal Reserve officials in the second part of the day. In addition, markets remain in a wait-and-see mode regarding further developments on potential steps toward resolving the Gulf conflict, which continues to add a layer of uncertainty and limits risk appetite.

Despite the quieter start to the session, it is worth keeping in mind that evening comments from members of the US Federal Reserve may introduce some increased volatility in currency and bond markets. Overall, however, the day is likely to be characterized more by consolidation and waiting rather than clear directional moves.

• 08:30 – Hungary: Wages (y/y), February – 9.7% (previous: 26.3%)

• 10:00 – Eurozone: Balance of payments, February

  • Current account n.s.a. – EUR 13bn

  • Current account s.a. – EUR 27.5bn (previous: 37.9bn)

• 10:00 – Italy: Foreign trade balance (EUR), February – 3.8bn (previous: 1.09bn)

• 11:00 – Eurozone: Foreign trade, February

  • Trade balance n.s.a. – EUR -1.9bn

  • Trade balance s.a. – EUR 11.1bn (previous: 12.1bn)

• 14:15 – Canada: Housing starts, March – 254k (previous: 250.9k)

• 17:30 – USA: Speech by San Francisco Fed President (Mary Daly)

• 18:15 – USA: Speech by Richmond Fed President (Tom Barkin)

• 19:00 – USA: Baker Hughes oil rig count, weekly – 412 (previous: 411)

• 20:00 – USA: Speech by Federal Reserve Board member (Christopher Waller)