Its Tuesday in Asia and the focus is already shifting to Wednesday

Wednesday 31 March will bring the latest PMI data from China and, during the US session Biden speaking on his US$3tln infrastructure plan.

For China, due at 0100 GMT on the 31st, China official PMIs
for March

  • Manufacturing expected 51.2, prior 50.6

  • Non-manufacturing expected 52.0, prior 51.4

  • Composite prior 51.6

For Biden, around half of the $3tln plan is expected to be announced (a second infrastructure announcement will follow at a later date) but markets could be more interested in any comment the Prez has on new taxes (the extent of the unwinding of the 2017 corporate tax cut and of course any increase to the top-end personal income tax rate).

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