Economic calendar: Inflation expectations from UoM survey

• European indices are opening higher
• University of Michigan data: Consumer sentiment and inflation expectations
• HICP inflation for the Eurozone

After a week filled with important macroeconomic data and interest rate decisions in the Eurozone and the USA, today's last day of the week is relatively calm. In the early part of the day, investors learned about the Bank of Japan's interest rate decision, which was in line with expectations. The BoJ kept the interest rates unchanged at -0.1%.

At 10:00 am BST, Eurostat will publish HICP inflation data for the Eurozone. However, after the individual country readings, these data releases are not expected to cause significant movements in the indices. The forecasted inflation for May is 6.1% YoY, and the core inflation is 5.3% YoY, compared to 7.0% YoY and 5.6% YoY, respectively, in the previous month.

Probably the most important publication today, in addition to the already known BoJ decision, is the University of Michigan's consumer sentiment index and inflation expectations. In the previous month, consumers expected one-year inflation to be at 4.2% and five-year inflation to be at 3.1%.

Detailed schedule for the day:

10:00 am BST, EU - HICP Inflation Headline:

• Expected: 6.1% YoY, Previous: 7.0% YoY
• Core: Expected: 5.3% YoY, Previous: 5.6% YoY

3:00 pm BST, USA - University of Michigan Sentiment:

• Consumer Sentiment: Expected: 60.2, Previous: 59.2
• 1-Year Inflation Expectations: Previous: 4.2%
• 5-Year Inflation Expectations: Previous: 3.1%

Central bank speeches:

• 8:30 AM BST, Japan - BoJ Press Conference
• 9:00 AM BST, Germany - Nagel, President of the Bundesbank
• 1:45 PM BST, USA - Waller, FOMC Member