Trade Data, Bank of England Meeting, China Data – The week starts with German factory orders on Monday, followed by industrial production figures from Germany (Tue), UK (Wed), EU (Thu) and China (Sat). In most cases, output is expected to be slightly higher, in line with the modest rise in the global manufacturing PMI for March. However, the overall trend is suggesting more stagnation than growth, particularly in the developed world.
There’s also trade data out, starting with China overnight, then Germany and the UK on Tue as well as BoP data for Japan on Wed (Thu AM Tokyo time). The Baltic dry freight index hit a record low in February, so I hold out no great hopes for the pace of global trade in March.
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