EUROPEAN SESSION
In the European session, the main highlight was the UK CPI report. The data came out lower than expected across the board, even the monthly figures that were not impacted by base effects and other caveats. Nonetheless, the increases in April were still higher than March, so the big picture trend is still to the upside amid the prolonged US-Iran conflict.
Looking ahead, we just get the final Eurozone CPI data which is not going to change anything for the ECB, so the market reaction will likely be muted.
AMERICAN SESSION
In the American session, we just have the FOMC meeting minutes. This is a market-moving release but the reactions are almost always faded because it’s generally stale by the time it comes out. We can expect to see more hawkish views and more dissenters for keeping the easing bias.
CENTRAL BANK SPEAKERS
- 13:15 GMT/09:15 ET – Fed’s Barr (neutral – voter)
