Today is a quiet start to the week with no data for the UK or EU.
We do have several Fed speakers today for the US scheduled to speak this afternoon. The topic of discussion is likely to be centered around interest rates.
Last week was dominated by US data, notably the inflation figures which came in softer than expected boosting expectations that the Fed will cut interest rates sometime this year.
Other US data that came in last week was genuinely weaker than expected.
This week there is a lot of UK data, with the highlight being this week’s inflation report on Wednesday. Markets are expecting to see a fall in the headline inflation number, but it is expected to remain above the 2 percent target,
We also have the PMI data, retail sales and Gfk consumer confidence numbers for the UK.
For the US and EU this week, PMI data will be the key focus.
Lastly, this Wednesday we have the minutes of the last Fed policy announcement that may give us further clues on the US interest rate intentions