Analysts at Danske Bank suggests that German ZEW expectations survey was very weak in April, which may be partly related to the uncertainty over a potential US-China trade war and the consensus looks for a stabilisation in the index in May at -8.2.
Key Quotes
“In the UK. It is time for the labour market report for March. Month-on-month wage growth has been remarkably stable in recent months and we estimate another increase of 0.2% m/m, taking the annual growth in average hourly earnings ex bonuses (3M average) to 2.9% y/y from 2.8%. The unemployment rate (3M average) is expected to remain at 4.2% but risk is skewed towards a fall to 4.1%.”
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