Summary:
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European Central Bank will publish the account from its latest meeting
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Some readings from the US labour market
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Two Fed speakers on the agenda this afternoon
12:30 pm GMT - ECB’s minutes: In March the European Central Bank decided to roll out a new TLTRO round beginning in September in order to reinvigorate the slowing economy. On top of that, the ECB reiterated its intent to continue reinvesting the principal payments from maturing securities purchased under the APP. Today’s account may shed more light on members’ expectations and their outlook with regard to the ongoing slowdown. The document may also reveal some disagreements within the Governing Council when it comes to the time when a first rate hike should be implemented. While the minutes should not be a game-changer for the common currency, it still may affect the euro and market participants’ expectations.
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Open account Try demo Download mobile app Download mobile app12:30 pm GMT - Challenger report, 1:30 pm GMT - weekly jobless claims: Both releases are undoubtedly second-tier ones being much less important compared to the governmental employment report scheduled to be released tomorrow. The Challenger report shows a number of layoffs planned by employers. No consensus is determined. In turn, a number of new jobless claims is estimated to have grown by 215k compared to 211k last week.
Central bank speakers:
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6:00 pm GMT - Fed’s Mester and Harker
The EURUSD is struggling to break its pivotal short-term resistance following the awful data on German factory orders. Source: xStation5
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