| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Producer Price Index (YoY) | February | 17.6% | 14.5% | 15.8% |
| 07:00 | Germany | Producer Price Index (MoM) | February | -1.2% | -0.5% | -0.3% |
| 10:00 | Eurozone | Trade balance unadjusted | January | -8.8 | | -30.6 |
| 11:00 | Germany | Bundesbank Monthly Report | | | | |
EUR firmed against most of its major rivals in the European session on Monday as investors continued to weigh the weekend’s announcement that UBS, Switzerland’s largest bank, agreed on Sunday to buy struggling Credit Suisse, the country’s second-largest lender, for about $3.2 billion.
The deal was orchestrated by the Swiss National Bank (SNB) and Swiss government and regulators and was considered as an attempt to reassure markets about the financial stability both in Switzerland and internationally.
The acquisition indicated that central banks and regulators are ready to step in to counter a loss of confidence in the banking system, but it failed to ease investor worries about the health of the global banking sector.
Now, markets wait for rate decisions from several major central banks, including the Federal Reserve, the Bank of England, and the Swiss National Bank, as well as flash March PMI readings for the Eurozone later this week.