Important upcoming events and publications

Important upcoming events and publications for March 21 (GMT):

08:30 SNB monetary policy decision is unlikely to change interest rates. Investors’ attention will be largely focused on the SNB comments and assessments in an attempt to understand whether the Central Bank will soften the rhetoric after colleagues from the Fed and the European Central Bank.

All day. The EU Economic Summit on Brexit has the potential to have the greatest impact on the pound during this day. The shift of the UK’s exit date from the EU is favourable for Sterling. On the contrary, the growth of chances of exit without a deal threatens to cause a strong surge in volatility.

12:00 BoE Monetary policy decision and the accompanying comments attract the attention of investors and traders, as it can shed light on further plans. Readiness to reduce the rate in the light of uncertainty around the exit from the EU can cause pressure on the pound.

12:30 U.S. Philly Fed Manufacturing Index is expected to return to positive territory after a decline month earlier. At the same time, the markets are alarmed by the sharp softening of monetary policy tone the day before. It is possible that the Fed sees signs of an even deeper slowdown.

See the detailed Economic calendar here