US eco data were stronger than expected
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European stock markets opened around 0.5% higher in a catch‐up move and managed to hold on to gains. US stock markets slightly slip away in the opening.
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US eco data were stronger than expected. Consumer confidence increased from 116.1 to 125.6 in March, the highest level since December 2000. The Richmond Fed manufacturing index also beat expectations, rising from 17 to 22, the strongest since April 2010. The US trade deficit was smaller than expected in February and housing prices (S&P CS) increased faster than forecast in January.
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The ECB improperly veered into political activity during the eurozone crisis and should withdraw from the "troika" of international bailout monitors, according to anti‐corruption watchdog Transparency International.
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South Africa's rand plummeted for a second day as speculation intensified that President Jacob Zuma is preparing to fire his finance minister after summoning him back from an overseas investor roadshow. USD/ZAR temporarily rose above 13.
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US President Trump will sign an executive order to undo a slew of Obama‐era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court.
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The National Bank of Hungary kept its policy rate unchanged at 0.9%, but the central bank raised its CPI forecast for 2017 to 2.6% in its quarterly Inflation Report from 2.4% in the previous report published in December. It did not change the 3% forecast for 2018 and in a new set of data also predicted 3% inflation in Hungary for 2019.
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