Market movers today
Today's data calendar is rather thin. In the US, the main focus will be on the release of housing starts and building permits for May as well as the release of the University of Michigan confidence indicator. The housing market has been a point of weakness lately, as the soft trend in housing starts continued in March and building permits actually declined, and the severe weather conditions during the winter months do not seem to be the only depressing factor. Recently Fed chair Yellen has noted the weakness in housing, and though the bar appears high for a pause in tapering, it will be interesting to see if the current weakness persists.
This morning, ECB's Coeure will be speaking in Warsaw and his comments will be closely followed for clues on potential upcoming easing measures, after several ECB board members have been in the media discussing the ECB's options. St Louis Fed President James Bullard (non-voter) will also speak today.
Ireland features on Moody's sovereign rating calendar for today and there had been no news at the time of writing. Ireland is currently rated 'Baa3' (positive).
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