ECB meets on Thursday

In the US, the market's attention will be focused on the minutes of the March Federal Open Market Committee (FOMC) meeting. The market will also be looking into the consumer credit data along with wholesale inventories. Import prices figures for March and trade balance figures for February will give an insight to external trade data. Within the property market we will be expecting some figures related to mortgage applications and pending home sales data for February. The release calendar features also the preliminary consumer sentiment survey for April.

In the UK the main focus will be on the Bank of England's (BOE) rate announcement due on Thursday. After Mervyn King's testimony before the Treasury Committee, market participants expect BOE to cut rates by 25 basis points. Meanwhile, industrial and manufacturing production for February will delve into the productivity levels within this region. Finally, the nationwide consumer confidence is also due.

In Euroland, the meeting of the European Central Bank (ECB) is expected to draw most of the attention on April 10. The perception is that interest rates will be kept on hold, as economic data emanating from the euro area indicates that the economy is holding up resiliently. Market participants will also be reading closely the Eurozone Gross Domestic Product for quarter four. In Germany, we will be looking into the industrial output for February while France will provide some data related to the February trade balance in terms of exports and imports.

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