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In the euro area, the main event today is the release of the ECB minutes from the April meeting, suggests the research team at Danske Bank.

Key Quotes

“The statement and press conference were more downbeat on growth than in March on the back of the moderation in data. Mario Draghi said during the April press conference that the ECB did not discuss monetary policy ‘per se’, so we see limited scope for further guidance on the next policy move in the minutes.”

“On the political front, German chancellor Merkel will visit China for talks with leaders including President Xi Jinping and the Eurogroup starts its two-day meeting in Brussels.”