Analysts at Danske Bank suggest that in today’s session UK retail sales data and voting on American Health Care Act will be the main market moving events.
Key Quotes
“UK retail sales for February will get some attention as the two past months of weakness broke a strong trend in 2016. A small increase of 0.4% m/m is estimated by consensus.”
“The key event today will be the vote in the US House of Representatives on the American Health Care Act (Trumpcare), which is to replace Obamacare. It is a close call and the uncertainty was the trigger for the Tuesday stock market sell-off. A rejection of the bill will delay Trump s plan for tax cuts and infrastructure spending and put into question his ability to govern even with a Republican majority in both houses of Congress.”
“Fed Chairman Janet Yellen (dove) is due to speak today at a Community Development Conference. It is not clear if she will talk about the overall economy but if she does, we do not expect her to change much compared to the Fed press conference last week.”
“Other data released today on the global front will be initial jobless claims, US new home sales and euro consumer confidence. We do not expect these to have any big market impact.”
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