European and North American stock markets have been mixed to start the week as they consolidated Friday’s action. The meeting between Greek PM Tsipras and German Chancellor Merkel appears to have gone about as well as could be expected with no breakthrough expected. Meanwhile, the ECB announced that it's QE program has gotten into gear with €35B of purchases settled to date and the program on track to hit its €60B target in the first month. ECB President Draghi indicated there are no signs they could run out of bonds to buy and that the lower EUR has been helping the Eurozone economy. Meanwhile several Fed members were out talking today. The overall tone was of a central bank on the March toward interest rate liftoff, possibly as soon as this summer. Comments from Fed Vice Chair Fischer could come toward the end of the year gave stocks a boost and kept the pressure on USD. This enabled currencies including AUD, NZD, SEK NOK and EUR to post strong gains on the greenback. Crude oil also rebounded with WTI shrugging off early weakness to narrow its spread with Brent to about $8.50 from around $10.00. Over the next 24 hours, trading may be impacted by two sets of economic reports. First flash manufacturing PMI reports for China, Japan, Germany, France and the US give the first look at how the global economy has performed in March so far. In particular traders may look for signs of how much China has slowed to warrant more aggressive stimulus out of the PBOC, and if the US has bounced back from weather related disruptions in February. China’s report could have a particularly large impact on copper which has soared over the last two trading days. AUD, NZD and China sensitive stock markets like the Hang Seng and S&P/ASX may also be active especially with both dollars strengthening lately. Second, inflation reports are due for the US and UK. Both of these central banks have been considering interest rate increases this year, but have held off due to falling inflation. Although there is a risk of negative headline numbers, these can be distorted by the oil price crash so keep an eye on core inflation which is what central banks focus. Low core inflation numbers may mean more delays to interest rate liftoff in both countries and put a tailwind behind indices while higher than expected core inflation could slow their advance. Corporate News There have been no major developments following the US close today. Economic News Significant announcements released overnight include: ECB QE purchases update €26.3B last week vs previous €9.2B US existing home sales 4.88M vs street 4.92M Upcoming significant announcements include: 10:00 am AEDT Australia leading index previous 0.4% 12:35 pm AEDT Japan flash manuf PMI street 52.0 12:45 am AEDT China flash manuf PMI street 50.5 8:00 am GMT France flash manuf PMI street 48.5 8:00 am GMT France flash service PMI street 52.5 8:30 am GMT Germany flash manuf PMI street 51.5 8:30 am GMT France flash service PMI street 55.0 9:30 am GMT UK consumer prices street 0.1% 9:30 am GMT UK core CPI street 1.3% 9:30 am GMT UK retail prices street 0.9% 9:30 am GMT UK producer input prices street (12.3%) 9:30 am GMT UK producer output prices street (2.0%) 9:30 am GMT UK ONS house prices street 8.9% 8:30 am EDT US consumer prices street (0.1%) 8:30 am EDT US CPI ex food and energy street 1.7% 9:00 am EDT US FHFA house prices street 0.6% 9:45 am EDT US flash manufacturing PMI street 54.6 10:00 am EDT US new home sales street 465K