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You’ll note a couple of points highlighted on the screenshot below:

Chinese inflation data was published over the weekend:

China inflation data: February CPI comes in at -0.7% y/y (expected -0.5%)

As I’ve already said on this:

• China once again into consumer price deflation. The poor data has a double meaning for financial markets. Its bearish in the sense that its terrible data, indicative of a consumer under pressure in China. On the other hand, it argues the need for more policy stimulus from China. While local governments in China are buried in debt, the central government has plenty of fiscal room to bolster policies to boost consumer spending. Given that hope springs eternal, I favour the second, bullish, take.

The other point of note is that the USA switched to daylight saving over the weekend. If you are offshore from the US you may need to adjust your local trading times. Cloicks in the US and Canda were wound back on hour on Sunday.

Otherwise, on the data agenda for today, its not top-tier data from Japan:

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at www.forexlive.com.

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