We have a light calendar in terms of data releases and markets could be in wait-and-see mode ahead of the ECB meeting tomorrow and the US job report on Friday.
The ADP employment report in the US could get some attention. It has generally been more stable than the non-farm payrolls and may be a better indicator of the true state of the labour market. Consensus is for an increase of 195K in March.
On the agenda at the Ecofin meeting today is the EU banking union. Moreover, the European politicians will discuss financial assistance for Ukraine. The US House has cleared loan guarantees of USD1bn to Ukraine and imposed sanctions against those deemed responsible for undermining Ukraine's sovereignty, see Bloomberg .
Fed's Lockhart (hawkish) and Bullard (dovish) speak today. Two days ago Fed Chairman Janet Yellen did all she could to sound dovish after the market had interpreted her comments at the Fed press briefing as rather hawkish.
In the Scandi markets it will be worth keeping an eye on the Danish central bank's currency reserve data for March. The krone is still relatively weak against the euro and has been trading as high as 7.4670 in March, a level that has previously prompted the central bank to intervene.
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