020 7898 0500There were no major releases from the eurozone yesterday, but economic data released elsewhere helped the euro make gains against sterling and the dollar. Today is a much busier day, with composite and services PMI scheduled for release in Germany and across the eurozone. All are expected to decline a little in May from April, so it will be interesting to see if this is the case and, if it is, whether the figures fall by more than expected.
We will also see retail sales for the eurozone in April. Month-over-month and year-on-year, they are expected to increase. ECB President Draghi will also give a speech at 2pm and the markets will focus on the sentiments expressed to see if he gives any clues on future monetary policy.
