Whereas the first day of the bank reporting season was strong, the second day was not, so Wall Street gave back some of Friday’s gains yesterday. Despite this, positive risk appetite remains intact.
US industrial production is expected to improve slightly in March, expanding 0.2% m/m after a flat reading in February. Capacity utilisation is seen steady at 79.1%.
ZEW surveys from Germany and the Euro-zone are due today, with both expected to rebound back into positive territory in April.
China’s Foreign Direct Investment data for March could be released today, which rose 5.5% y/y last month. If it echoes the surge in new loans seen in March, then gold could feel more pressure.