Good Morning Traders! It is the end of a varied week for Europe, this Friday 21st of April. Ending the week off with a big PMI day, coupled with UK Retail Sales.
Here is what to be aware of before kicking the day off.
Sentiment
New emergency loan statistics revealed persistent financial stress, and Federal Reserve policymakers supported another interest-rate rise as they monitored the effects of bank stress on the economy.
Silvana Tenreyro, a Bank of England policy maker, said interest rates are already too high for the economy to withstand and compared her hawkish colleagues to a "fool in the shower" who scalds himself by being anxious to wait for the water to warm up.
The Bank of Japan's policy meeting, the first under its new chairman Kazuo Ueda, will be under close observation next week as Japan's inflation rate continued to exceed forecasts.
According to those familiar with the internal discussions, President Joe Biden plans to sign an executive order in the upcoming weeks that will restrict American companies' ability to participate in significant sectors of China's economy. Amid simmering tensions with Taiwan and the US, China's military intends to conduct at least five manoeuvres in several locations, including the South China Sea and waters off its coast.
Docket
02:00 AM ET
UK Retail Sales MoM
Median Forecast -0.5% | Prior 1.2% | Range 0.4%/-1.1%
UK Retail Sales YoY
Median Forecast -3.1% | Prior -3.5% | Range -2.1%/-3.8%
03:15 AM ET
French S&P Services PMI
Median Forecast 53.5 | Prior 53.9 | Range 55.5/51.0
French S&P Mfg PMI
Median Forecast 47.8 | Prior 47.3| Range 49.0/46.8
03:30 AM ET
German S&P Mfg PMI
Median Forecast 45.7 | Prior 44.7 | Range 46.5/44.5
German S&P Services PMI
Median Forecast 53.4 | Prior 53.7 | Range 54.2/51.0
04:00 AM ET
Eurozone S&P Mfg PMI Flash
Median Forecast 48 | Prior 47.3 | Range 48.5/47.0
04:30 AM ET
UK S&P Composite PMI Flash
Median Forecast 52.2 | Prior 52.2 | Range 53.0/51.5
UK S&P Services PMI Flash
Median Forecast 52.8 | Prior 52.9 | Range 54.5/51.0
Speakers
03:00 AM ET
ECB's de Guindos Speaks
4:00 AM ET
ECB's Vujcic Speaks
Good luck today traders!
