Economic calendar: US retail sales, ECB minutes

European markets seen opening higher
US retails sales data at 1:30 pm BST
ECB minutes, speech from Fed hawk Kaplan

US indices snapped losing streak and pushed higher yesterday. Recovery later arrived on the Asian stock exchanges and European indices are seen opening higher today as well.

There are some events of note scheduled for today. US retail sales data for April is a key reading of the day and it is expected to show a small increase after last month's surge. Apart from that, European Central Bank will release minutes from its April's meeting but this release rarely triggers major market moves. Preliminary University of Michigan data for May and speech from Fed hawk Kaplan may trigger some short-term volatility.

8:00 am BST - Spain, CPI inflation for April. Expected: 2.2% YoY. Previous: 1.3% YoY

9:00 am BST - Poland, GDP report for Q1 2021. Expected: +1.1% QoQ. Previous: -0.7% QoQ

12:30 pm BST - ECB minutes.

1:30 pm BST - US, retail sales for April.

Headline. Expected: +1% MoM. Previous: +9.7% MoM
Ex-autos. Expected: +0.7% MoM. Previous: +8.4% MoM

2:15 pm BST - US, industrial production for April. Expected: +1% MoM. Previous: +1.4% MoM

3:00 pm BST - US, University of Michigan consumer sentiment for May. Expected: 90.3. Previous: 88.3

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6:00 pm BST - Fed Kaplan

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Economic reports

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Economic calendar: US retail sales, ECB minutes

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