Analysts at Danske Bank point out that, we will get the UK labour market report for February and is the key economic data for today’s session.
“We expect the annual growth rate of average hourly earnings excluding bonuses (3M average) to increase to 2.8% y/y from 2.6% y/y, as the weight of the monthly fall in December 2016 becomes less important. We believe the unemployment rate (3M average) will remain at 4.3%.”
“In the euro area, German ZEW expectations for April are being released where consensus is for another fall to -1.0 from 5.1. The survey will give some early insights on how much recent geopolitical uncertainty and US-China trade war tensions have weighed on investor economic sentiment.”
“In the US, industrial production data for March is due out. Industrial production is quite volatile but both PMI and ISM manufacturing are signalling that expansion will continue.”
“Another set of Fed speakers is on the agenda today, including Williams (voter, neutral).”
“The IMF will publish its semi-annual World Economic Outlook today, containing its new global and country level economic projections.”
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