- At 11:00 GMT, this eventful Wednesday will kick off with the Mortgage Bankers Association (MBA) numbers. The MBA Mortgage Applications for the week ending on April 5 will be released. The previous reading for the week ending on March 29 was at -0.6%. No forecast is available.
- At 12:30 GMT, the US Consumer Price Index for March will be released:
- Monthly headline inflation is expected to fall to 0.3% against 0.4% in February.
- Yearly headline inflation is seen accelerating to 3.4% from 3.2%.
- Monthly core inflation is expected to slow to 0.3% from 0.4%.
- Yearly core inflation is expected to come down to 3.7% from 3.8%.
- At 14:00 GMT, Wholesale Inventories data for February will be released, with a steady 0.5% increase expected.
- Federal Reserve Bank of Chicago President Austan Goolsbee will be speaking around 16:45 GMT.
- The Federal Open Market Committee (FOMC) will release its recent March meeting Minutes around 18:00 GMT. Traders will be looking for clues or clearer evidence for the timing of when the Fed will start cutting its interest rates.
- Asian equities are very much dispersed with only the Chinese Hang Seng Index being up near 2%. All other Asian indices are in the red. European and US equities are mildly in the green ahead of US inflation release.
- According to the CME Group’s FedWatch Tool, expectations for the Fed’s May 1 meeting are at 97.4% for keeping the fed funds rate unchanged, while chances of a rate cut are at 2.6%.
- The benchmark 10-year US Treasury Note trades around 4.36%, which is lower ahead of US inflation.
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