Important upcoming events and publications for April 12 (GMT):
09:00 Eurozone Industrial production shows a decline to last year’s levels since November. It is expected that February data will maintain this negative trend with a decline of 1.0% y/y. A more significant drop is able to bring the pressure back on the single currency.
14:00 U.S. Consumer Sentiment Index had grown during previous months after the January’s sharp drop. However, in April the index is expected to resume its decline from 98.4 to 98.1. The index growth coupled with rising inflationary expectations can support the demand for the dollar and risk assets.
17:00 Baker Hughes U.S. Rig Count is considered an important indicator of production trends for the coming 6-9 months. The last week data showed growth for the first time since February. Further growth of indicator can restrain the growth in oil prices closer to the end of the week.
See the detailed Economic calendar here
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