Market movers today
Focus will remain on Ukraine where Crimea's referendum to join Russia will take place on Sunday. The referendum is expected to be in favour of joining Russia, so focus will be on Russia's reaction to the request and how Europe and the US will respond to a possible Russian annexation of Crimea. US Secretary of State Kerry will meet with his Russian counterpart in London today.
Today's data calendar is very light with probably only Michigan University Consumer Confidence for March able to get some attention in the market. In line with consensus we expect a slight improvement in consumer confidence in March. Consumer confidence in the US has so far been resilient despite the slowdown in consumer spending in recent months.
US producer prices for February will also be released today. In Europe we do not expect any revisions in connection with the release of final German consumer prices (HICP) for February.
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