In the data calendar the focus will mainly be on US data. Durable goods orders forApril should give us an idea of the strength of the rebound in business capitalexpenditure in Q2. A slight decline is expected, largely reflecting a payback on a solidgain in March. We also expect the Conference Board consumer confidence to haveincreased a little ahead of consensus expectations on the back of higher stock pricesand an improving labour market.
Focus will continue to be on ECB’s central bank forum in Sintra, Portugal, eventhough ECB vice-president Constancio yesterday said that current policy issues willnot be discussed at the forum. Most interesting today will be an armchair discussionwith ECB president Draghi at 15:30 CET. ECB chief economist Praet will chair mostof today’s discussions.
EU-leaders are scheduled to meet this evening in Brussels to discuss the outcome ofthe EU-election and the appointment of a new President of the European Commission.So far Jean-Claude Juncker, representing the centre-right parties, is the favourite butboth the UK and Hungary have said they will block his candidacy.
In Sweden the semi-annual opinion poll and trade balance for April will be released.
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Danske Bank