The slow start to the week continues today, with the only major release of economic data being the Canadian Consumer Price Index.
However, later this evening Bank of England Governor Bailey will be holding a speech at 18:00. Investors will be sure to tune into this as the talk of a summer rate cut becomes more of a probability.
Looking ahead this week to Wednesday, the UK release their Consumer Price Index where inflation is expected to take a major drop towards the 2% target. Markets are forecasting a drop to 2.1% (from 3.2%). With the talk of rate cuts in the UK becoming more prominent, markets could see some volatility off the back of this release.
Following this the US will announce their Existing Home Sales, a key indicator in the state of the economy.
As the week goes on, markets are preparing themselves for further volatility with the release of PMIs across Europe.
The final release of note for the UK before the Bank Holiday is Retail Sales, markets are expecting to see a fall in this year on year.
As for the currency market, the pound has gained some strength against both the euro and dollar.