UK Chancellor, Jeremy Hunt, is gearing up to present his spring budget to the parliament on Wednesday. Although pre-election giveaways are anticipated, significant tax cuts may not be feasible due to limited headroom. The announcement is slated for 7:30 AM ET.
Additionally, German foreign trade and construction Purchasing Managers' survey results are critical economic reports due for release today. At 2:00 am ET, Destatis will present Germany's foreign trade figures for January, with exports predicted to increase by 1.5% monthly and imports expected to rise by 1.8%.
By 2:30 am ET, information on industrial production, retail sales, and foreign trade figures for Hungary are expected to be released. Germany's construction PMI survey data is set to follow at 3:30 am ET.
At 4:30 am ET, S&P Global will publish UK construction PMI survey results. The index is projected to rise from 48.8 in the prior month to 49.0 in February.
Lastly, at 5:00 am ET, Eurostat will issue the euro area retail sales for January. Contrary to the 1.1% dip in December, economists predict a 0.1% month-on-month gain in retail sales.
