This morning, we have the Purchasing Managers Index figures for Spain, Italy and France, where It is expected that there will be some positive movement on these from the previous month.
German PMI is forecasted to show a slight expansion from March, however it still remains below the 50 threshold that indicates economic expansion.
In the States, the change in the value of new orders is set to come in at 1.4 percent as manufacturing picks up.
Last night the US Federal Reserve held interest rates in a range of 5.25 percent– 5.5 percent. Inflation in the US remains high at 3.5 percent, well above the 2 percent target rate.
Fed Chair ‘Powell’ indicated last night that it is unlikely the Fed will hike rates again this year.
Following last nights Fed meeting, the US dollar weakened off a little against the pound and euro, as markets lessened their expectations on any future rate hikes.
GBPUSD has regained some of its losses since yesterday evening. Volatility in the market has been low for GBPEUR this week trading in a tight 50-point range.
Tomorrow, we have the PMI services for the UK and Employment figures for the EU. Both sets of data will will be closely watched.
To cap off a busy week, Non-Farm payrolls will garner most of the attention tomorrow where it is expected we could see a fall from the previous month.
Other key US data will be the ISM Non-Manufacturing Survey released at 3pm.