The Zew Economic Index for March, announced today in Germany and the Euro Zone, was below expectations. The data fell to -46.5 in Germany and 10.0 in the Eurozone. In the assessment, it was stated that international financial markets are under pressure, the high level of uncertainty is reflected in the Zew Economic Index, and the profits of banks have deteriorated significantly, although still positive.

US Treasury Secretary Yellen said in her speech today that the measures taken by the Treasury, FED and FDIC have reduced the risk of other bank collapses, that the steps to protect the SVB Bank are aimed at protecting the US banking system, not specific banks, and that deposit outflows from regional banks have stabilized.

The Consumer Price Index (CPI) for February, which we tracked in Canada, came in at 0.4% monthly and 5.2% annually, increasing less than expected. Core CPI, on the other hand, increased by 0.5% and 4.7%, respectively. CPI and Core CPI had increased by 5.9% and 5.0% in the previous data. After the rate of increase in inflation started to decrease in Canada, expectations may arise that the Bank of Canada will gradually end interest rate hikes.

Agenda of the day;

• 18:30 (GMT+3) Speech by ECB Member Enria
• 23:30 (GMT+3) US API Crude Oil Stocks