Today’s economic calendar is light in terms of economic data releases. Already released this morning, German industrial production increased by 2.1% in March (expected 0.3) and showed two consecutive months of expansion.
German exports showed a significant fall to -2 percent (previous 6.3%). On the other hand, imports came in better than expected in the green at 3.2 percent.
The dollar was volatile last week following important US economic data releases. Leading up to the positive non-fam payrolls release on Friday, the dollar was pegged against the other currencies in the G10 after the ISM Purchasing Managers Index recorded lower than analysts’ expectations.
Investors’ will keep a close eye on the US inflation reading on Wednesday. CPI is expected to remain high at 3.4 percent, however markets will be more interested in the comments that follow after from the policymakers.
The ECB are likely to hold interest rates, with the view at cutting interest rates in the summer. Towards the backend of this week, we have UK GDP, industrial manufacturing and production output to measure how the UK economy is performing.