Markit PMIs coming up
Someone's durable goods orders will be delayed with this ship blocking traffic in both directions in the Suez canal. The latest report says it will be dislodged today or tomorrow.
Given that timeline, it won't have a noticeable effect on global commerce but it certainly highlights the importance of the Suez and Panama canals.
For today, the February prelim US durable goods orders report is up first and expected to rise 0.5% after a 3.4% jump in February. It's out at the bottom of the hour.
The main highlight comes at 1345 GMT with the Markit prelim manufacturing and services PMIs for the US. Earlier releases from France, the UK and Germany were all strong, highlighting the better rebound in Q1 than anticipated.
We also get another day of Powell, starting at 1400 GMT. The text was already released and is identical to yesterday.
