Today’s data calendar is relatively light with focus likely to stay on US data. In linewith consensus expectations, we expect University of Michigan consumer confidenceto have improved slightly to 83.0 in June from 81.9 in May on the back of animproving labour market and continued gains in stock prices. In the US, producerprices for April will also be released today.
Producer prices does not usually get a lot of attention but with focus gradually turningback to inflation, it could also gradually come back into the limelight.
Bank of Japan (BoJ) Governor Kuroda will hold a press briefing at 08:30 CET inconnection with today’s BoJ meeting. As widely expected BoJ did not announce anynew easing measures. The press briefing will probably be uncontroversial and withoutany major impact. However, in light of the recent increase in inflation, it willinteresting to see if Kuroda is willing to discuss exit strategies from the currentaggressive QE programme.
Today Fitch could potentially announce a rating decision on France and Moody’scould possibly announce a rating decision on Italy.
IEA is set to publish June’s oil market report today which may get some additionalattention on the back of the recent rise in Iraqi supply concerns.
Swedish unemployment data is due today.
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