The European CPI figures have come as expected in March and by the same rate of Feb as it was up by .4% monthly and .6% yearly again.
Both of the building permits and the US housing starts have declined surprisingly in March. The housing starts slumped to .51m and the building permits have fallen to .513m which put doubts about the stability in the housing sector in US after the credit crisis as the down side risks are still existing negatively impacted by the current low level of consuming and business spending which lead to further losing jobs.
The market is still waiting cautiously for the release of citigroup quarterly earning by the end of the week after the recent modifications of the accounting system to lower the loses in the banks balance sheets because of their holding of toxic assets. On the 10th of March Citigroup CEO Vikram Pandit has mentioned profitability in the first 2 months of 2009. this announcement has triggered a positive sentiment towards the future performance of the banking sector in US after the credit crisis and derived the stock of the bank up from below 1$ to about 4$ after 5 quarters of loses amid the recent recovery of the stocks market after reaching its lows a day after these announcement. Wells Fargo has reported that these profits can be more than $3 billion in the first-quarter profit. The announcement is looking serious to the recent rally and can put it in a serious check which caused this mixed trading this week until now.