Global stock markets had one of the worst days in history yesterday
Michigan consumer sentiment seen dropping in March
Wall Street suffered its worst session since 1987, European blue chips indices slumped over 10% and situation in Asia is not much better. Given that there are no major, market moving data scheduled for release today, today’s trading is likely to be dominated by headline news. Spain, UK and Italy imposed restrictions on short-selling of some stocks, what may ease some pressures. Michigan consumer sentiment is the most important point in today’s calendar.
8:00 am GMT - Spain, CPI for February (flash). Expected: 0.8% YoY. Previous: 0.8% You
9:00 am GMT - Poland, CPI for February. Expected: 4.4% You. Previous: 4.4% YoY
12:00 pm GMT - Mexico, industrial production for January. Expected: -1.5% YoY. Previous: -1.0% YoY
2:00 pm GMT - US, University of Michigan consumer sentiment for March (flash).
University of Michigan sentiment data is the most important reading scheduled for today. While it may not be important enough to move markets around, it may help assess the impact of coronavirus scare on consumer. Headline index is expected to drop from 101 pts to 95 pts.