Market movers today
• In the euro area, the EU Commission is due to release its confidence indicators, which we expect to show some improvement in May from low levels.
• We expect the second release of US Q1 GDP to show a small upward revision to 2.6% driven by improved personal spending growth – this is slightly above consensus expectations. US housing data has been strong lately but we see a risk of a pause in pending home sales in April.
• Another interesting release is US claims data. Initial jobless claims have been trending downwards since the start of the year and a further continuation of this trend suggests that the labour market improvement is ongoing.
• Danish unemployment might show a modest decline while we expect Norwegian retail sales to have gained in April.
Click here to read the full report: FX Daily
Danske Bank