Eurozone Inflation Declines Less Than Anticipated

Highlights for Today:

Euro zone Sentix Investor Confidence index releases at 08:30 CET.
China’s ‘Two Sessions’ annual key policy event begins, focusing on the government’s work report at the National People’s Congress (NPC).
Leaders of Sweden’s government hold a press conference at 11:00 regarding new fiscal policies.
Fed’s Harker speaks at 17:00 CET.

Overnight Developments:

Japan’s Nikkei stock index surged past 40,000 for the first time, supported by loose monetary policy and a weak Japanese yen.

In the euro area, inflation figures showed core and services inflation remained strong, while headline inflation fell less than expected.
Former US President Donald Trump won Republican caucuses in several states, advancing closer to securing the nomination.
US stock indices Nasdaq and the S&P 500 closed at record highs on Friday.
Israel boycotted ceasefire talks with Hamas in Cairo, and OPEC+ extended output cuts to the second quarter.
Global equities were higher on Friday, with the S&P 500 marking 16 out of 18 weeks of gains.
European rates remained stable, with the ECB expected to deliver a rate cut in June.
Portugal was upgraded to A- by S&P as expected.

EUR/USD holds within the range of 1.0800-1.0850, while USD/CHF remains range-bound.
EUR/JPY is close to 163 after last week’s high, and EUR/CHF trades just below 0.96.
EUR/NOK saw a sharp drop on Friday, while EUR/SEK started the week at 11.20.