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Danske Bank analysts suggest that in light of another day of only tier-2 data releases, political headlines – be it the US-China trade spat or Brexit – will remain in focus today.

Key Quotes

“In the UK, PM Theresa May will convene a cabinet meeting today to consider how to respond to the collapse of the cross-party talks with Labour.”

“In the Euro area, consumer confidence data for May is on the agenda. Domestic demand, especially private consumption, was an important growth driver in Q1 as consumer sentiment recovered some ground after the H2 18 weakness. We will look for any signs that this trend might go into reverse amid the latest trade war escalation.”

“Central bankers will also be on the wires today, with ECB Vice President De Guindos speaking in London and the Fed’s Evans and Rosengren discussing the economy and monetary policy.”

“Overnight to Wednesday, Japanese export figures for April are due out and will shed some light on where the Japanese export sector is heading after the surprisingly strong Q1 GDP figures released yesterday.”