Monday will be the first trading session for the new quarter. It also includes a variety of data points which could affect the mood of market participants. March trading was heavily influenced by the fallout of four banks’ collapse, which drove investors to seek out safe havens. Although optimism is returning, there are still fears.
One issue is whether chaos in the banking industry has reached the real economy. This could be seen first in the PMI numbers that will be released during the session on Monday. This survey was taken at a time of greatest concern about the banking system. Investor confidence could be boosted if the results are more positive than expected. Investors could overlook them if they are less than expected. This is because they may be a result of the dissipating bank situation.
The most important data points
China reported its official PMI measure from the National Bureau of Statistics (NBS) in China, showing the composite result leaping to multi-year records. This was due to a rise in the non-manufacturing components to 57.0, which was higher than the projected 55.1 (which was lower that the 56.4 before). The non-manufacturing results were the…
