Analysts at Danske Bank suggest that today we have a lot of important data releases across markets, with a slight disappointment in PMIs out of China setting the scene for the day.
Key Quotes
“In the euro area, we are due to get the Q1 GDP print, which we expect to show how much the weak manufacturing sector has dragged down growth at the start of the year. The service sector has been strong on the back of rising domestic demand though and we expect a 0.3% q/q print.”
“Also in the euro area, the German inflation print will give us a glimpse of where Friday’s euro-area inflation print is heading. Last month, inflation fell on the back of seasonal effects from the timing of Easter – we expect the print to rebound on the back of this effect and due to rising energy prices.”
“The Hungarian central bank (MNB) is due to announce its rate decision today. At the March meeting, the central bank kept its key rate unchanged and hiked the overnight deposit rate by 10bp to -0.05% to respond to hawkish market expectations. We expect the loose monetary policy to continue and look for no key rate changes today but the prospect of further implicit tightening through liquidity tools remains.”
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