- Final reading of inflation from EMU
- Preliminary reading of the UoM index
- Fed’s Williams to take the floor this afternoon
10:00 am BST - inflation from EMU: This will be the final reading of European inflation for April. The consensus suggests no revisions to preliminary data, hence headline price growth should stay at 1.7% and core price growth at 1.2% in annual terms. The data will also offer a view to what extent rising food prices (especially pork prices spurred by the ASF virus) contributed to a rise in inflation last month.
3:00 pm BST - UoM index: Consumer spending turned out to be quite weak in the first quarter in the US and the first glimpse into the second quarter also does not bode well (a decrease in retail sales). In this regard a further increase in consumer confidence in conjunction with rising incomes could be reassuring. The consensus suggests the index will remain unchanged in May compared to 97.2 points.
Central bankers’ speeches:
1:00 pm BST - BoE’s Brazier
4:15 pm BST - Fed’s Williams