Today’s macroeconomic calendar is very light and, aside from the preliminary February CPI reading from the euro area, no major data releases are scheduled. Investors are focusing on the energy commodities market — mainly oil — and developments in the Middle East conflict. Ahead of the US session, major American home improvement and interior retail company Target (TGT.US) will report earnings. Here’s what today’s calendar looks like:
Economic Calendar
9 AM GMT, Euro area: Preliminary February CPI
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Headline CPI: 1.7% y/y expected vs. 1.7% y/y previously
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Core CPI: 2.2% y/y expected vs. 1.7% y/y previously
Euro area: Preliminary February CPI m/m
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0.5% m/m expected vs. -0.6% previously
8:30 PM GMT: API Weekly Crude Oil Inventories
Central Bank Speakers
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1:55 PM GMT – Fed Williams
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2:30 PM GMT – ECB Kocher
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2:40 PM GMT – ECB Slejpen
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3:45 PM GMT – Fed Kashkari
The US Dollar Index futures (USDIDX) are trading higher today and are approaching a test of the 200-session exponential moving average (red line), which symbolically separates a downtrend from an uptrend.

Source: xStation5
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