US House to debate economic relief bill in the early afternoon
Revised UoM consumer sentiment data for March
Stock markets ignored disastrous jobless claims reading yesterday and kept rallying. There is little data scheduled for release today therefore markets are likely to be steered by coronavirus-related and political newsflow. The US House will start a debate over the economic relief bill in the early afternoon. Apart from that, revised consumer sentiment data from University of Michigan will be released later on.
12:30 pm GMT - US, PCE core inflation for February. Expected: 1.7% YoY. Previous: 1.6% YoY
1:00 pm GMT - House of Representatives debates economic relief bill. Lower house of the US Congress will hold a 2-hour long debate over the $2.2 trillion economic relief bill today with a vote expected afterwards. It is mostly a done deal but there is some chatter that one Republican member may attempt to delay the vote. Should he succeed, the vote would likely be delayed to Saturday or Sunday.
2:00 pm GMT - US, UoM consumer sentiment for March. Flash release for March showed University of Michigan consumer sentiment dropping from 101 to 95.9 pts. However, final release is expected to see a downward revision to 90 pts, highlighting damage the coronavirus outbreak has done.
4:00 pm GMT - US, Baker Hughes oil rig count. Oil rig data is not market moving but may hint at damage low prices are doing to the US oil sector. Last week showed a drop from 683 to 665.