Today is a quiet day in terms of economic data releases. In the UK, the labour market report for March is due. We estimate the unemployment rate (3M average) was unchanged, as there is still no evidence that Brexit uncertainties and slower growth have hit the labour market. We estimate the annual growth rate in average weekly earnings ex bonuses (3M average) fell from 2.2% to 2.1%, meaning that nominal wage growth continues to be subdued despite higher inflation.
The euro area final HICP figures for April are due out. The details should be especially interesting for April, as they should reveal to what extent Easter drove the inflation figure up (see Core inflation surprised on the upside but not the first sign of higher underlying price pressure , 2 May).
The Polish central bank is expected to keep the policy rate unchanged at 1.50%.
There are no market movers in Scandi today.
To read the entire report Please click on the pdf File Below