Flash inflation from the euro area and mortgage approvals from the UK are due on Friday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is scheduled to release Germany's retail sales and import prices for April.
The marquee markets event for the week is almost upon us, and needs little introduction: The outlook for U.S. interest rates continues to be the elephant in the trading room for all asset classes, responsible not only for recent peaks in Treasury yields and the dollar, but also forming the backdrop for record runs and subsequent declines in the likes of gold and bitcoin. The Federal Reserve wraps up its two-day powwow today with all ears trained on what Chair Jerome "Jay" Powell has to say in his news conference, which takes on extra weight in the absence of updated economic projections from the board this time around. Futures markets now just barely see a single quarter-point rate cut by year-end, from an many as five of those at the start of the year.
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Flash inflation from Germany and mortgage approvals from the UK are due on Tuesday, headlining a busy day for the European economic news. At 2.00 am ET, UK Nationwide house price data is due.