The Fed’s Minutes from its last meeting will be poured over by investors looking for hints about how close the Fed is to cutting rates.
The Fed still sees around three rate cuts this year, while money markets are still hoping for at least five, according to the CME’s FedWatch Tool.
Markets are pricing in 70% odds of a first rate trim in June.
The EU’s Consumer Confidence in February improved more than expected, printing at -15.5 versus the forecast -15.6, compared to the previous month’s print of -16.1.
Thursday’s EU HCOB PMIs are broadly expected to recover, with the pan-euro area Composite PMI for February forecast to improve to 48.5 from 47.9.
A below-50.0 print for the Composite component would represent a ninth straight month in contraction territory.
Europe’s final Core Harmonized Index of Consumer Prices (HICP) inflation on Thursday is expected to confirm the preliminary print of 3.3% YoY.
The US is expected to see a slight downtick in its PMI figures, with the Services component forecast to drop to 52.0 from 52.5 and the Manufacturing component expected to drop to 50.5 from 50.7.
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