Analysts at Deutsche Bank suggest that the focus today will be on the NFIB small business optimism reading for April and March JOLTS data from the US.

Key Quotes

“Away from the data Fed Chair Powell is due to speak in the morning in Zurich at a SNB/IMF event while the ECB's Liikanen and the Riksbank’s Deputy Governor Jansson will also speak. EU27 envoys are also due to gather in Brussels to discuss the state of play in Brexit talks.”

“Wednesday: The main focus on an otherwise quiet day tomorrow is likely to be the April PPI report in the US. March wholesale trade sales and inventories data will also be released while in Europe the only data of note is the March industrial production print in France. The Fed's Bostic is also due to speak again, later in the evening. It's worth noting that Japan PM Abe is also due to host South Korean President Moon Jae-in and Chinese Premier Li Keqiang.”

“Thursday: A busy day, highlighted by the April CPI report in the US in the afternoon. Prior to that we have the BoE meeting (which includes a Carney press conference and the latest inflation report) while in the morning in China the latest April CPI and PPI prints are due. Other data worth watching on Thursday is the March trade balance in Japan and UK, March industrial production in the UK and weekly initial jobless claims and April monthly budget statement in the US.”

“Friday: It's a quiet end to the week on Friday with the only significant data coming from the US with the April import price index and preliminary May University of Michigan consumer sentiment report. ECB President Draghi is also due to address an audience at the ADEMU conference in Florence.”

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