The risk mood will continue to dictate proceedings as we get settled into the new week. There is an element of pushing and pulling in markets after the solid push higher in the dollar and worsening risk sentiment over the past two months. Dollar bets are cooling off and deleveraging and selling pressures are also more contained for now. Call it an overdue correction or retracement but it is what it is.
Looking ahead, the latest PMI readings in Europe are expected to reaffirm roughly similar conditions in April. The focus will continue to reside on inflation pressures and the broadening impact towards businesses and consumers, with the outlook still facing some key risks as such.
0645 GMT – France May business confidence
0715 GMT – France May flash manufacturing, services, composite PMI
0730 GMT – Germany May flash manufacturing, services, composite PMI
0800 GMT – Eurozone May flash manufacturing, services, composite PMI
0830 GMT – UK May flash manufacturing, services, composite PMI
1000 GMT – UK May CBI retailing reported sales
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.