Eurozone: Industrial and consumer confidence data in focus – Danske Bank

Research Team at Danske Bank, suggests that the US and UK markets are closed due to the holidays and today is therefore set to be a quiet day in terms of data releases.

Key Quotes

“However, the remainder of the week is packed with events, including the May ISM manufacturing index (Wednesday), the jobs report (Friday) as well as Thursday's ECB meeting.

In the euro area, there are no major events scheduled for today. At 11:00 CET, industrial and consumer confidence data is due to be released and at 14:00 CET preliminary German HICP data is due out.    

In Scandi markets, however, there is a busy schedule. In Sweden, Q1 GDP is due at 9:30 CET and we expect it to have increased 0.4% q/q or 4.0% y/y. However, given recent weak data, we feel that the risk is on the downside. In Norway, we expect today's retail sales figure (10:00 CET) to show a rebound to 0.8% m/m after a couple of weak months. The Labour Force Survey (LFS) unemployment figures for MarSelected Market News ch (10:00 CET) are expected to show an unchanged jobless rate of 4.6%.”