The upcoming Euro-Zone Retail PMI reading will give us some insight into the resiliency of the European consumer. In April the indicator posted at the lowest level in its history which began in January, 2004.
On Friday, the National Association of Realtors is expected to report that existing home sales slipped to 4.85 million -- the lowest reading since record-keeping began in 1999.
Retail spending in the UK is anticipated to slow for the second consecutive month during April and fall 0.5 percent from March to help drag the annual rate of growth down to 4.2 percent.
The key thing to watch for in the release of the Fed minutes is the commentary amongst the FOMC members regarding inflation, especially given rocketing energy and food prices.
Investor sentiment throughout the Euro-zone is anticipate to improve very slightly in May as the ZEW survey is forecasted to edge up to -44.2 from -44.8.
Investor sentiment throughout the Euro-zone is anticipate to improve very slightly in May as the ZEW survey is forecasted to edge up to -44.2 from -44.8.
While Friday's US economic releases don’t tend to be incredibly market-moving, there are few other indicators scheduled to hit the wires and as a result, the markets could show very muted price action all day or these figures could spark a bit of volatility.
While European Central Bank President Jean-Claude Trichet maintained his hawkish posture during the press conference following the ECB’s last policy meeting and brushed off the downside risks to growth, upcoming economic data may give him reason to reconsider his position.
The release of UK jobless claims tends to spark a decent amount of price action for the UK markets, and with declines in the number of people claiming unemployment benefits forecasted to stall, the news could be quite bearish.
Advance Retail Sales are expected to fall back 0.2 percent after showing a surprising 0.2 percent gain during the month prior, but given the current economic scenario, this figure could prove to be even more disappointing when announced Wednesday.
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