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According to analysts at Rabobank, today’s major news focus is going to be the US Mueller Report, which will soon be released in a lightly-redacted format.

Key Quotes

“It’s 400 pages long – and yet everyone is going to have an opinion out the door in seconds, most of them supporting their own political biases, of course. Will there be anything truly unfortunate in it for the White House, or will Trump be in a position to cast more  orangey  snark-it at the media?”

“In the UK we have retail sales, seen -0.3% m/m headline and core, though in y/y terms both remain reasonable; in Canada we also see retail spending, expected 0.4% m/m and 0.2% ex-autos; and in the US it’s more ker-ching with retail sales for March seen up 1.0% m/m headline and 0.4% ex-autos.”

“There is also the US Philly Fed, and then US Markit manufacturing (52.8), services (55.0), and composite PMIs to look ahead to. The Fed’s Bostic also speaks at an economic roundtable event.”