The macro data calendar is reasonably light this week in the United States but heavy in Europe, particularly the UK with labour market, inflation, retail sales and April PMI figures due out (with the latter two probably the most relevant). The Eurozone will also release preliminary manufacturing and services PMI numbers – a first glimpse of how the economy fared with most European countries in lockdown. German ZEW and IFO numbers for April are also scheduled for release.
Monday 20th April
No tier-one data releases scheduled
Tuesday 21St April
Australia: Reserve Bank of Australia to release minutes of its March meeting.
United Kingdom: Labour market data (February). These figures will arguably be of only modest interest to markets focussed on the impact on the British economy of a national lockdown introduced on 23rd March.
Switzerland: External trade data (March).
Eurozone: German ZEW economic sentiment (April). This index collapsed in March to an 8-year low of
-49.5 but analyst forecast a small rebound to -41.0 in April.
Wednesday 22nd April
United Kingdom: CPI-inflation (March). Analysts forecast only a modest fall in headline and core CPI-inflation but the government has warned of bigger falls in months ahead.
Thursday 23rd April
Eurozone: Composite PMI (April, preliminary data). This index of economic activity collapsed to 31.4 in March from 51.6 in February and could well have fallen further in April.
United Kingdom: Composite PMI (April, preliminary data).
United States: Initial jobless claims (week till 23rd April). The number of Americans applying for unemployment benefits for the first time has increased by 21 million in the past month and is expected to rise by a further four million this week.
Friday 24th April
United Kingdom: Retail sales (March). Analysts forecast a 4.0% mom drop, which would be the largest in decades (retail sales contracted 3.9% mom in July 2008).
Eurozone: German IFO business climate index (April).
United States: Durable goods orders (March).
