Jobless claims data in the spotlight
China's services PMI from Markit to be released overnight
Equity indices from Europe and the United States try to recover in premarket trade ahead of European session launch. DAX is seen opening more or less flat. When it comes to data, the key point of the day will be release of US jobless claims data. Reading is expected to come in millions rather than thousands once again. Apart from that, traders may want to follow newsflow as chatter of US involvement in Saudi-Russia price war gave crude price a lift.
European & US session
10:00 am GMT - Euro area, PPI inflation for February. Expected: -0.7% YoY. Previous: -0.5% YoY
1:30 pm GMT - US, jobless claims. Jobless claims data released last week showed a massive increase. The data highlights how big is the coronavirus impact on the US economy. Unfortunately, the situation is likely to get worse and markets expect today's data to show claims at 3.5 million. However, some institutions, like for example Goldman Sachs, expect claims to surpass 5 million.
3:00 pm GMT - US, factory orders for February. Expected: 0.2% MoM. Previous: -0.5% MoM
3:30 pm GMT - US, natural gas storage. Expected: -31 bcf. Previous: -29 bcf
1:30 am GMT - Australia, retail sales for February.
2:45 am GMT - China, Markit services PMI for March.