Economic Calendar: US Retail Sales and Fed Members' Speeches

• Futures indicate a lower opening of today's cash session in Europe.
• German ZEW index and US retail sales
• Speeches by ECB and Fed members

Futures markets at the start of the session in Europe point to a lower opening of the stock exchanges. The weaker sentiment may be attributed to the declines in the Asia-Pacific region following the release of macroeconomic data.

Today's calendar is relatively busy with various events. Investors will receive US retail sales data, which is forecasted to be at 0.8% MoM after a decline last month. In Europe, one of the key releases will be the German ZEW sentiment index and EU's GDP data for Q1. The German economy has recently encountered difficulties and today's data may provide insights from institutional investors and analysts.

Macro Data:

• 10:00 AM BST - Eurozone, Q1 GDP data, expected 0.1% YoY
• 10:00 AM BST - German ZEW index for May, expected -5.3, previously 4.1
• 1:30 PM BST - USA, Retail sales, expected 0.8% MoM, previously -0.1% MoM
• 1:30 PM BST - Canada, CPI inflation, expected 4.1%, previously 4.3%

Bankers' Speeches:

• 1:15 PM BST - Fed, Mester
• 1:55 PM BST - Fed, Bostic
• 3:00 PM BST - Fed, Barr
• 3:00 PM BST - ECB, Lagarde
• 5:15 PM BST - Fed, Williams
• 7:30 PM BST - Fed, Goolsbee
• 8:15 PM BST - Fed, Logan