Single Currency Quiet, US To Release PPI
The Euro/Dollar pair remains calm, down 0.01% to trade at 1.2319. Today, the US will provide inflation figures, including Purchasing Price Index and Core Purchasing Price Index. Tomorrow, Mario Draghi will deliver a speech in economic event in Frankfurt and Fed will issue the protocol of its March policy meeting. Recent data indicated that the US nonfarm payrolls dropped to 103K. Wage growth hit 0.3%.
The Asian markets sentiment have been boosted by news that Chinese President Xi Jinping took a rather peaceful stance in the “US-China trade tension” case. In his speech, the President hardly mention the situation and tried not to make any provocative comments about it. Jinping also expressed his commitment to global multilateral framework like G20, APEC and promised to open up China markets to foreign investments. That will suggest reduced tariffs for autos, increased intellectual property protection and enforced investment protections for foreign businesses.