Economic calendar: More virus-infected data

• Conference Board data expected to show massive drop

• European CPI seen slowing in March

• PMIs from Japan and China to be released overnight

European and US stock futures recovered from earlier declines and now DAX is expected to open slightly higher. There is quite a lot of data scheduled for release today. German unemployment, Chicago PMI and Conference Board data are likely to show the impact of the coronavirus outbreak. Apart from that, G20 finance ministers and central bankers are expected to hold a video conference at some point during the day. Japan’s PMI and China’s PMI from Markit are key releases for the Asian session.

European & US session

7:55 am GMT - German, unemployment change for March. Expected: +29k. Previous: -10k

10:00 am GMT - Euro area, CPI for March (flash). German data released yesterday showed CPI inflation slowing in-line with expectations, from 1.7% to 1.4% YoY. Inflation in Spain slowed as well and it looks likely that we will see lower reading on the euro area level. Market consensus points to a slowdown from 1.2% to 0.8% YoY. However, the reading should not have much impact on the market as focus is on coronavirus outbreak.

1:30 pm GMT - Canada, GDP for January. Expected: 0.1% MoM. Previous: -0.3% MoM.

2:45 pm GMT - US, Chicago PMI for March. Expected: 40 pts. Previous: 49 pts

3:00 pm GMT - US, Conference Board consumer confidence for March. Revised University of Michigan data showed a drop from 101 to 89.1 pts in March, down from 95.9 pts signalled by preliminary reading. Conference Board data is expected to show deterioration as well as it is forecast to drop from 130.7 to 110 pts. If so, it would mark the lowest reading since November 2016.

9:40 pm GMT - API weekly report on oil inventories. Expected: +0.5 mb

Asian session

1:30 am GMT - Japan, manufacturing PMI for March. Expected: 44.8 pts. Previous: 47.8 pts

2:45 pm GMT - China, Markit manufacturing PMI for March. Expected: 45.8 pts. Previous: 40.3 pts