The dollar is stabilizing; reports suggest the White House is developing a plan to reopen the US economy sooner rather than later
Both Hong Kong and Singapore just tightened restrictions on gathering and movement
FOMC minutes for the March 15 decision will be released today
No united action came out of yesterday’s EU finance minister conference call; we suspect the lack of any progress on a package was why the ECB yesterday began accepting Greek bonds
Poland is expected to keep policy steady; yesterday, Hungary started asset purchases in an emergency meeting
Confirmed Covid-19 cases reached the one million case milestone worldwide; the dollar continues to recover
The US data highlight will be March jobs data; here are some more thoughts about that latest shocking initial jobless claims print
Weak final eurozone services PMI readings were reported; incredibly, Italy’s services and composite readings plunged to 17.4 and 20.2
Final UK services and composite PMIs fell too but not as dramatically
Turkish March inflation declined, opening the door for further easing; oil prices have been on a wild ride over the last two sessions on speculation of supply cuts by major players
The number of confirmed cases in the US (85.6K) has overtaken that of China (81.3K)
S&P oversaw an absolute bloodbath in the ratings of the oil exporters late yesterday
Funding markets remain stressed, but they are improving in some areas; credit markets have followed the improvement in broad risk appetite over the last few sessions
There will be some minor US reports; Mexico reports February trade; Colombia is expected to cut rates 50 bp to 3.75%.
Portugal is working on legislation for a moratorium on debt payments of up to six months
