Eurozone week ahead: ECB speeches, IFO and German inflation – Danske Bank

The EZ PMI report triggered a decline in global equities on Friday, so next data from the Eurozone should be relevant. Analysts from Danske Bank also warn about speeches from European Central Bank authorities.  

Key Quotes:  

“In the euro area, we have many ECB speeches on Wednesday as part of the ECB watchers conference in Frankfurt. Mario Draghi, Peter Praet and Luis de Guindos will all participate with a first public appearance on monetary policy since the March package. Naturally Draghi’s keynote speech and Praet’s participation in the ‘normalisation of monetary policy’ panel will be closely watched.”

“In Germany, we get the March Ifo prints on Monday. After last week’s uptick in ZEW expectations investors are becoming on balance a bit less pessimistic on the euro  area/Germany outlook. It will be interesting to see if this is also reflected in the Ifo reading, which usually is a better predictor of the real economic momentum than ZEW.”

“On Thursday, we get the German preliminary inflation data for March. Headline inflation has stayed muted at 1.7% y/y over the past three months and we see scope for a small rise to 1.8% y/y on the back of the recent increasing oil prices.”