Markets are between Scilla and Charybdis, waiting for good US policy actions to surpass expectations, yet hoping that bad US policy options will not be carried out. Watch out for RBA, RBNZ.
USD: Tweeting from President Trump will be the highlight of the week, if we explude the FOMC Minutes (which ought to be more influential than last week’s decision). We also have Fedspeak to look out for.
EUR: Draghi (Mon) will be watched as he defends stimulus measures and Weidmann (Tue & Fri) will most likely bring out the counter-arguments later in the week. Beyond that we have Ger Ind.Prod. (Tue) and Trade Balance (Thur) are the only other highlight this week.
GBP: Attention might be directed at the A-50 parliamentary debate (Mon-Wed) and markets expect Article 50 to be triggered by end of March. Beyond that, we have Trade Balance, Industrial Production, Construction Output (all Friday).
CAD: Fairly boring week with Trade data (Tue), Housing (Wed), Employment (Fri). Externalities to dominate.
Asia: Reserve Bank of Australia (Tue) Is expected to remain on hold, as is the Reserve Bank of New Zealand (Wed). China releases Caixin ServicesPMI (Mon) and then Trade figures later in the week.
Going into the week, Aud & Nzd are strongest vs. Usd & Gbp but things might change depending on the Central Bank decisions, so keep an eye out for those. US equities are bullish, along with Gold.