Next Up Later in the session, euro area trade data will provide further direction. Economists forecast the trade deficit to widen from €8.8 billion to
Next Up
Later in the session, euro area trade data will provide further direction. Economists forecast the trade deficit to widen from €8.8 billion to €12.5 billion in January.
However, with investors treading carefully after the Credit Suisse Group AG close call, investors should also monitor ECB member speeches. ECB President Lagarde will speak today, with comments on inflation, monetary policy, and the banking crisis likely to garner interest.
Away from the economic calendar, banking sector-related news will also influence following the UBS AG (UBS) agreement to acquire Credit Suisse Group AG (CS).
Hopes of the global economy avoiding a recession stemming from synchronized central bank monetary policy tightening have faded. The banking crisis has shown the effect of tightening monetary policy on the financial sector that could have wider-reaching implications.
Looking ahead to the US session, it is a quiet day on the US economic calendar. There are no US economic indicators for investors to consider. The lack of stats will leave bank-related news and sentiment toward the Fed to provide direction.
However, there are no FOMC member speeches to consider. The Fed entered the blackout period on Saturday, leaving investors to consider how the Fed will respond to the banking sector crisis.
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