Economic Calendar: EU Retail Sales and Canada’s Ivey PMI

  • European indices set to open with little change
  • EU retail sales data
  • Factory orders in Germany

European futures for the indices point to a flat open for today’s cash session in Europe. The German DAX index is down 0.1% and trading around 15,945 points, while the Euro Stoxx 50 index is 0.06% below the line.

Today’s macro calendar is relatively light for the US, where no releases are expected except for the weekly Crude Oil Inventories (API) report. However, in Europe, investors will receive several interesting data. The Factory Orders data for Germany released at 07:00 BST is particularly targeted. The German economy has slowed significantly in recent weeks and orders point to further contraction. Monthly orders fell 0.4%, compared to forecast growth of 3.0%. Then, at 11:00 BST, retail sales data for the Eurozone will be released.

Detailed program of the session:

6:30 a.m. Australia – Interest rate decision

  • Increase from 0.25% to 4.10%, forecast: 3.85%, previous: 3.85%

08:00, Germany – Factory orders for April

  • Actual: -0.4% MoM, forecast: 3.0% MoM, previous: -10.9% MoM
  • Actual: -9.9% YoY, Previous: -11.2% YoY

11:00 a.m. EU – April Retail Sales

  • SA – Expected: 0.2%, Previous: -1.2%
  • WDA – Expected: -3.0%, Previous: -3.8%

4:00 p.m., Canada-Ivey PMI

  • Expected: 57, Previous: 56.8

10:40 p.m. US – Crude Oil Inventories Report

  • Awaited: 0.5 mins, Previous: 5.2 mins

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