UK and euro area CPI on the agenda today
However, economic data will continue to decline for the time being as risk sentiment remains the main driver of the market so far this week.
The dollar is slightly softer as we look to European trade, but the ranges have been a little tighter so far, with the yen also remaining a bit more under pressure.
Despite repeated over-eagerness from buyers over some disappointment, this hasn’t stopped the rally in stocks over the past eight weeks – since the trough of March 23.
Let’s see if the party will continue because the tastes of the S&P 500 continue to meet – or at least almost – the resistance of the main technical levels.
0600 GMT – British CPI April figures
0600 GMT – UK figures for the April PPI
0800 GMT – Balance of the current account of the euro zone in March
0900 GMT – Final figures for the April euro area CPI
1100 GMT – US MBA mortgage applications w.e. May 15
Weekly US housing data measures the change in the number of MBA-supported mortgage applications during the week. Not the largest of the data points, but a general indicator of sentiment in the housing sector.