Market movers today
Focus today will be on the results of the Italian election and news around the US tariffs on steel and aluminium and retaliation.
On the data front, look out for the US ISM non-manufacturing index for February in the afternoon, where there may be some downside risk after a very strong number in January. In the euro area, PMI services (final) and the Sentix index will be out this morning.
The annual National People's Congress (NPC) in China started today and will run for about 10 days. Premier Li Keqiang has presented his work report already and announced that the growth target for 2018 will be 6.5%, but did not use the expression 'or higher' as some had expected. Fiscal policy is also being tightened as it continues to be focused on fighting financial risks and securing a stable outlook. The NPC is likely to approve the removal of the two-term limit on being president, paving the way for Xi Jinping to stay on beyond 2023.
In the Scandies, the key release today is the monthly house price statistics from Real Estate Norway , see Scandi Markets on page 2.
In terms of the rest of the week, look out for the ECB meeting on Thursday , US non-farm payrolls on Friday and a range of Fed speeches , which will be particularly interesting after the US trade tariffs were announced last week.
To read the entire report Please click on the pdf File Below: