It's Monday but the market is largely in a good mood with S&P 500 futures up 0.1% and oil up $1.65 despite a new record in covid cases in China.
The highlight on the US economic calendar today is February factory orders, a report that includes revisions to durable goods orders. I can't see how this one would be a market mover but it will offer some insights on demand and supply chains.
The report I'm looking forward to is the Q1 Bank of Canada business outlook survey. This is a critical input ahead of the April 13 BOC meeting, which is a close call between 50 bps and 25 bps. This survey is underrated by the market but leaned on heavily by the central bank. It's also a great forward-looking metric that applies to the entire North American economy.
For more, see the economic calendar.
