Eurozone’s February Retail Sales +0.3% m/m (expected +0.6%; prior +0.2%) and +5.0% yr/yr (expected +4.8%; prior +8.4%)
Germany’s February Industrial Production +0.2% m/m (expected -0.2%; prior +1.4%)
UK’s March Halifax House Price Index +1.4% m/m (prior +0.8%) and +11.0% yr/yr (prior +10.8%); Q4 Labor Productivity +0.7% (prior -4.4%)
Switzerland’s March Unemployment Rate 2.2% (expected 2.2%; prior 2.3%)
ECB member Nagel highlighted the potential for a rate hike soon given high inflation rates, reports suggest Russia is planning an offensive in eastern Ukraine, and Royal Dutch Shell warned that it sees a $4-5 bln charge in Q1 relating to its Russian activities.
Germany’s industrial production report for February was better than expected, yet that period mostly pre-dates Russia’s invasion of Ukraine, so there isn’t a lot of confidence that the strength will persist in coming months.
EUR/USD is unchanged at 1.0891.