Economic calendar: Central bankers speeches and API report

• Speeches from central bankers
• API weekly crude oil stock

It’s a quieter day ahead on the economic calendar. The major reading of the European hours - German retail sales data for April - has already been released at 7:00 am BST and showed 5.5 % contraction in April, reversing from a 7.7% jump in March and much worse than forecasts of a 2% drop. There are no other major macro readings scheduled for release later in the day so traders can expect today's trading to be driven by headlines as well as speeches from central bankers. Oil traders will look for API inventories data for hints ahead of tomorrow's DOE release. 

10:00 am BST – Eurozone, PPI MoM for April. Expected 0.9%. Previous 1.1%

12:00 pm BST - US, MBA Mortgage Applications. Previous -4.2%

1:30 pm BST - Canada, Building Permits MoM for April. Expected -4.8%. Previous 5.7%

7:00 pm BST - US, Fed Beige Book

9:30 pm BST - US, API crude oil stock change. Previous 0.439M

Central bankers' speeches:

10:00 am BST - RBA Debelle 

4:45 pm BST – Bundesbank Weidmann

6:10 pm BST - ECB President Lagarde

7:00 pm BST - Fed Bostic

7:00 pm BST - Fed Evans