Economists expect German retail sales for March to rise 0.6% following February's revised decline of 0.7%. The annualized rate is expected to fall 2.3% following last year's 0.3% decline.

Also from Europe is April's PMI manufacturing report, which is expected to remain at March's level of 50.8. German PMI Manufacturing is also expected to hold steady at 53.6.

In the UK, markets will receive PMI construction data for April, which is expected to come in at a reading of 47.0, down slightly from March's reading of 47.2

All times in EDT.

Friday:

2:00 EU German Retail Sales (M/M) March Exp: +0.6% Prior: -1.6% Revised: -0.7%

2:00 EU German Retail Sales (Y/Y) March Exp: -2.3% Prior: -0.3%

3:00 UK HBOS Plc House Price (SA) (M/M) Exp: -0.5% Exp: -2.5

3:00 UK HBOS Plc House Price (3mnth/Year) Exp: -0.7 Prior: 1.1%

4:00 EU German PMI Manufacturing April Final Exp: 53.6 Prior: 53.6

4:00 EU PMI Manufacturing April Final Exp: 50.8 Prior: 50.8

4:30 UK PMI Construction April Exp: 47.0 Prior: 47.2

By Neils Christensen, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Cristina Markham, This email address is being protected from spam bots, you need Javascript enabled to view it