After the meetings of the Federal Reserve (Fed), the Swiss National Bank (SNB) and the Bank of England (BoE), the focus is back on economic data on Friday, with the preliminary reading of March PMIs across the globe. Traders will also pay attention to renewed banking concerns. 

Equity prices in Wall Street finished with gains but far from session highs, pointing lower amid renewed banking concerns. The Dow Jones gained 75 points after being up by more than 400 points. Technology stocks outperformed while regional banks tumbled. 

On Friday, markets will have the first numbers of global activity during March, the PMIs. Central banks around the globe adopted the “data-dependent” mantra, so economic figures should be relevant. Overall, activity is expected to have remained near February’s levels. 

Data released on Thursday showed US New Home Sales rose 1.1% to 640,000 (annual rate) in February, slightly below expectations. The Chicago Fed National Activity Index fell from 0.23 to -0.19 in March, against forecasts of a 0 reading. Initial Jobless Claims dropped unexpectedly in the week ended March 18 to 191,000, the lowest in three weeks. 

Late on the day, the deterioration in market sentiment boosted Treasury Bonds. The US 10-year yield settled at 3.39%, the lowest in three days. Despite the moves in the bond market, the US Dollar Index rebounded, ending with marginal gains above 102.50.