A pretty light day today in terms of data, with the only release of interest beingpreliminary euro area consumer confidence (16:00 CET), expected to rise slightlyagain in June. It has been rising in almost a straight line since late 2012 and is now atthe highest level in close to seven years.
Bank of Japan Governor Kuroda is set to speak at 08:36 CET at the annual meetingof the National Association of Shinkin Banks and may give more clues on how theBank of Japan sees the economy evolving this year.
ECB’s Mersch will speak in a panel at 10:15 CET but the issue is on what fiscalcapacity EMU needs. Hence, he may not say much about current monetary policy.
According to Moody’s, the sovereign ratings of Spain and Norway couldpotentially be revised today. We see a decent chance of a Spanish upgrade.
Consumer confidence and retail sales are due from Denmark, but otherwise it shouldbe a quiet day in the Scandi markets.
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