Market movers today
The key event today will be the ECB meeting , see preview . We do not expect any changes to the policy rates and find it unlikely that the ECB will outline a decision on extension/termination of the QE programme before June. That said, we are looking for the ECB to remove the easing bias in the forward guidance , meaning it will drop the paragraph about increasing the QE programme in size and/or duration if economic conditions turn less favourable.
US President Donald Trump's protectionist measures will continue to be in focus, as he plans to sign orders for steel and aluminium tariffs today at 21:30 CET. For more on US trade policy and protectionism see our piece Research US: Symbolic protectionism with limited impact on growth and inflation but risks remain .
On the data front, we have German factory orders and US jobless claims.
In Scandi , it is time for industrial production data out of Norway and the Riksbank will hold its Open Forum.
To read the entire report Please click on the pdf File Below: