ECB, UK jobs and PMI data in focus

The European Central Bank meets on Thursday and will announce its latest monetary policy decision. The ECB is expected to leave monetary policy unchanged.

In March, the ECB announced a greater-than-expected range of stimulus measures aimed at boosting a fragile recovery in the region. The Bank introduced negative interest rates – it cut the deposit rate to minus-0.4 percent and the main refinancing rate to 0.0 percent. The ECB also extended its monthly asset purchases to 80 billion euros ($87 billion), that took effect in April.

Other data in focus in the coming week will be PMI data. The flash manufacturing and services PMI for the Eurozone will be released on Friday. The data will provide some indication on economic trends in the euro area for the beginning of the second quarter.

Flash manufacturing PMI Data will also be released in the US and Japan.

Employment data out of the UK will be closely watched on Wednesday. The unemployment rate is forecast to stay at 5.1% but will be more important to watch will be wage growth numbers. Meanwhile, the release of retail sales numbers on Thursday will provide further information on the health of the UK’s economy in the opening quarter of the year.

On Thursday, initial jobless claims numbers and results from the Philadelphia Fed manufacturing survey are due from the US.

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