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Survey Data From Europe And United States Ahead

  • European indices set to open slightly lower
  • German IFO indices, Dallas Fed
  • US Q1 GDP, German Q1 GDP and CPI data later into the week

European index futures trade slightly lower ahead of the cash session opening. This comes after a rather downbeat Asian session that saw indices from South Korea and China drop hard and other regional indices trade flat. USD has been one of G10 top performers throughout Asian trading hours but started to gave back gains as the European session drew closer. This allowed precious metals to catch some breath and gold to climb back above $1,980 mark.

Economic calendar for the day ahead is light but includes some interesting survey data. German IFO indices for April are top release of the European morning hour while survey data from Dallas Fed in the evening will also be watched closely given recent releases of other regional Fed indices. A number of speeches from ECB members is scheduled throughout the day and they may provide some EUR volatility.

Things get more interesting later into the week, especially in the second half of it as traders will be offered US GDP report for Q1 2023 (Thursday), CBRT rate decision (Thursday) or flash CPI data for April and Q1 2023 GDP reports from Europe (Friday).

9:00 am BST – Germany, IFO indices for April.

  • Business Climate: 94.0. Previous: 93.3
  • Expectations: 91.1. Previous: 91.2
  • Current Conditions: 96.0. Previous: 95.4

9:00 am BST – Poland, data pack for March.

  • Industrial production. Expected: -1.9% YoY. Previous: -1.2% YoY
  • Construction-Assembly Production. Expected: 1.0% YoY. Previous: 6.6% YoY
  • Retail sales. Expected: 7.4% YoY. Previous: 10.8% YoY

3:30 pm BST – US, Dallas Fed manufacturing index for April. Expected: -11.0. Previous: -15.7

Central bankers’ speeches

  • 8:30 am BST – ECB Vujcic
  • 9:00 am BST – ECB Enria
  • 9:35 am BST – ECB Villeroy
  • 10:00 am BST – ECB Panetta
  • 12:15 pm BST – ECB Vujcic
  • 12:20 pm BST – BoE Breeden
  • 2:30 pm BST – ECB Panetta

Top Wall Street earnings

  • Coca-Cola Company (KO.US) – before market open
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