Good Morning,
Following a relatively quiet day yesterday, we can expect to see some market movement today with significant data released in both Europe and the States. Since the back-end of the last week, Sterling has been gaining against the Euro, closing last night above 1.4500 and with Business Confidence in Germany expected to show a decline in March, we can expect to see further movement throughout the course of the day.
The Dollar has been boosted ahead of the Federal Reserve meeting this evening with policy makers expected to raise interest rates to 4.75% and we will be paying particular attention to the accompanying statement where we can hope to gain a greater understanding of future policy and whether the Fed will keep raising borrowing costs over the coming months. There is also U.S Consumer Confidence data released at 16:00 today with forecasters anticipating only a slight improvement in March following higher petrol prices and a weakening housing market.
Data Released 28th March
GER 09:00 IFO Index (March)
U.S. 16:00 Consumer Confidence (March)
U.S 20:15 FOMC Rate announcement
written by Adam Solomon
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