Decision of the Swiss Central Bank due

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The Swiss National Bank’s monetary policy announcement and the results of the purchasing managers’ flash survey of major eurozone economies are due on Thursday, headlining a busy day for the news European economy.

At 3:45 a.m. ET, INSEE publishes press releases business confidence survey results. The business climate index is expected to fall slightly to 110 in March from 112 in February.

At 4:15 a.m. ET, IHS Markit releases France flash composite PMI survey data. The composite PMI is seen at 54.3 in March, down from 55.5 in February.

At 4:30 a.m. ET, the Swiss National Bank announces its decision on interest rates. The central bank is expected to keep the key interest rate and interest on sight deposits at the SNB at -0.75%.

Meanwhile, flash composite PMI data from Germany is expected. Economists expect the indicator to fall to 53.7 in March from 55.6 in February.

At 5:00 a.m. ET, Norges Bank is expected to announce the results of its Monetary Policy and Financial Stability Committee meeting. The bank is expected to raise its rate to 0.75% from 0.50%.

In addition, the results of the Eurozone flash composite PMI survey are expected. The flash composite PMI is expected to fall to 53.9 in March from 55.5 the previous month.

As of 5:30 a.m. ET, UK Markit/CIPS composite flash survey data is due. Economists expect the indicator to drop to 57.8 in March from 59.9 a month ago.

At 7:00 a.m. ET, the Confederation of British Industry releases data from the Distributive Trades survey. The retail sales balance is expected to fall to 10% in March from 14% in February.

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