U.S. tariff announcement approaches, market sentiment improves

This week is an important one for the U.S. economy as it leads up to the anticipated tariff announcement on April 2. Recently, U.S. equity futures rose after a report suggested that the tariffs will be more focused than previously feared. Inflation is a major topic this week. The U.S. core Personal Consumption Expenditures (PCE) report is set to be released on Friday. Other countries will also report their inflation figures, including the UK and Australia on Wednesday, and France and Spain later in the week. Additionally, global flash Purchasing Managers' Index (PMI) data will be released today. The PMI is a key economic indicator, and it will be interesting to see how recent tariff discussions and Germany's new fiscal policies influence these figures. In the U.S., the Conference Board’s consumer confidence index will be updated tomorrow. This follows a dip in another confidence gauge from the University of Michigan last week. Germany's IFO index will also be closely watched for changes in economic sentiment. Other significant U.S. economic reports include durable goods orders on Wednesday, and final GDP numbers for the fourth quarter on Thursday. The trade data expected may show an increase in imports ahead of the tariff changes. In Turkey, the situation intensified over the weekend when Istanbul's mayor, Ekrem Imamoglu, was jailed on corruption charges. This development has raised concerns over stability in the city, especially since he wasn't charged with terrorism, which could have led to further unrest. As the week progresses, various central bank meetings and reports will also take place. The Bank of Japan will share summaries from its March meeting, while the European Central Bank will release a consumer expectations survey. All these events will shape the economic landscape in the coming days.