According to analysts at TD Securities, despite recent divergence between activity and survey data in Europe, they finally expect improvements in the flash PMIs for May.
“In France, we look for the PMI Services to rise half a point to 51.0 (mkt: 50.8), while the German PMI Manufacturing rises to 46.0 (mkt: 44.8).”
“Shortly after, the German IFO for May is released, and we look for a gain of about half a point in both the Current Assessment (to 104.1; mkt: 103.5) and Expectations (to 95.7; mkt: 95.0) indexes."
"At lunchtime, the ECB releases minutes from its 10 April meeting. While President Draghi hinted in his press conference that all instruments would be "live" at the upcoming June meeting, the minutes are likely to provide few details on his thinking, while reiterating that TLTRO details are due to be announced in early June. It's also worth bearing in mind that the meeting was held before the above-trend Q1 GDP data was released, so some of the expected cautious tone will be somewhat out of date. Finally, the ECB's Nowotny speaks at 5pm.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.