According to analysts at Danske Bank, trade tensions between the US and China continue to be the key driver for markets.
Key Quotes
“On the data front, the main releases will be US retail sales for April and the US Empire business survey index for May. We expect retail sales to continue to show strength but would keep in mind the data is quite volatile on a monthly basis. Retail sales bounced back strongly in March after a weak start to the year.”
“The Empire index will give us the first survey for May. We also get the first estimate of German GDP growth in Q1. We expect 0.4% q/q.”
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