Market movers ahead

  • In the euro area a range of sentiment indicators for April are released, but markets will particularly keep a close eye on developments in PMI manufacturing.
  • After the first estimate of US GDP growth in Q1, we will also get a glimpse of how the economy started into Q2 with the Markit PMIs for April.
  • The focus in China continues to be on the trade talks with the US which go on ‘around the clock’.
  • In Japan export figures will get some attention after the past months’ weakness, while the focus during the Bank of Japan’s policy meeting will be on the updated inflation projections.
  • In Sweden, we expect the Riksbank to keep the repo rate path unchanged in April.

Weekly wrap-up

  • US and China are edging closer to a trade deal after reaching consensus on an enforcement mechanism.
  • EU leaders decided to grant the UK a second Brexit extension to 31 October 2019.
  • The ECB’s policy message was again on the dovish side in April, leaving the door open for further policy easing.
  • The hunt for carry continues in fixed income markets, while EUR/USD shrugged off the ECB’s dovish message. Oil prices ground higher amid heightened supply risks.

Full report in PDF.

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