In the UK this morning, Aprils industrial production figures, along with the external trade and construction out put data later on in the week, will provide us with the first of the hard data outlook for Q2. It looks as if there could be a slight drop in the growth due to the slower than expected manufacturing survey PMI back in April. With this expected, it is likely that the industrial sector as a whole, may underperform this quarter.
EU and world News
A relatively quiet day in the Eurozone today. The main data comes later this evening when the Reserve Bank of New Zealand are set to speak about interest rates. There were talks that the RBNZ would cut rates to 1.75% although now look as if they are going to leave them unchanged.
In the US today we have the JOLTS report which usually doesn’t get too much market attention due to the figures being a month behind the non-farm payrolls, although this month may be slightly different following on from Friday’s unexpected drop in the non-farms.
Morning Market Rates