Economic data to come during the European session

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Australian survey on business confidence and conditions is due Tuesday


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.

During day-to-day trading, US stocks rose slightly before sliding towards the end due to doubts about vaccines, which keeps the bulls in check as we enter mid-week trading.

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

The previous version can be found here. Inflationary pressures are expected to ease further amid the fallout from the virus epidemic and falling energy prices in the past month. It’s pretty much history everywhere, so expect similar circumstances in the UK.

0800 GMT – Balance of the current account of the euro zone in March

The previous version can be found here. General indication of the inflows / outflows of the euro area economy, but this is a bit late as it concerns the data for the first quarter.

0900 GMT – Final figures for the April euro area CPI

The preliminary version can be found here. As these are final figures, they should not offer much new to move the dial to the market.

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.



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