Flash Purchasing Managers’ survey from euro area and retail sales from the U.K. are due on Thursday, headlining a busy day for the European economic news.
At 3.00 am ET, French flash PMI is due. The manufacturing PMI is expected to rise to 48.5 in May from 48 in April. The services PMI is seen at 51.9 versus 51.4 a month ago.
In the meantime, consumer confidence from Turkey and average gross wages from Hungary are due.
At 3.30 am ET, Markit is set to release Germany’s PMI data. The manufacturing indicator is forecast to fall to 52 in May from 52.1 in April. Economists expect the services PMI to fall to 53.9 in May from 54 in April.
At 4.00 am ET, Eurozone flash PMI data is due. The composite PMI is expected to be unchanged at 53.9 in May.
In the meantime, the European Central Bank is set to release current account data. The Eurozone current account surplus is seen at a seasonally adjusted EUR 26 billion in March compared to EUR 26.4 billion in February.
At 4.30 am ET, the Office for National Statistics is slated to issue U.K. retail sales data. Economists forecast retail sales to rise 0.4 percent month-on-month in April reversing a 0.5 percent fall in March.
At 6.00 am ET, the U.K. Industrial Trends survey data is due from the Confederation of British Industry. The industrial order balance is seen at 3 percent in May versus 1 percent in April.
At 7.30 am ET, the European Central Bank is scheduled to release the account of the monetary policy meeting of the Governing Council held on April 14 and 15.
The material has been provided by InstaForex Company – www.instaforex.com