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22 May

According to just released public finances figures, Britain’s government borrowings fell unexpectedly for April. Moving ahead, market participants will note BoE Governor Mark Carney’s comments in his speech, due later today. Traders also await next week’s second estimate of the UK’s first quarter GDP figures for an encompassing view surrounding the performance of the UK economy during the previous quarter.In the Euro zone, the German Ifo business climate and sentiment index deteriorated less than anticipated from April, easing concerns about the Euro zone’s largest economy. Across the Atlantic, investors look forward to the release of consumer price index data for more hints to the US Fed's next move.

21 May

This morning’s data showed that monthly retail sales bounced back in April, suggesting an uptick in consumer demand leading the Pound to breach the 1.56 mark against the US Dollar. Yesterday’s minutes of the latest BoE policy meeting also suggested a positive mood among policymakers as they expect British economic growth to improve in the second quarter.In the Euro zone, the preliminary manufacturing PMI data surpassed market estimates in May, thereby providing some support to the Euro against the greenback. Across the Atlantic, market focus will be on weekly jobless claims, existing home sales and manufacturing activity data for further direction to risk appetite.

20 May

BoE policy makers were unanimous in the decision to keep interest rate steady and at a record low during its latest monetary policy meeting. The just released BoE meeting minutes offered no new information, as the quarterly inflation report released last week had offered insights to MPC members’ views on the economy.Conversely, the FOMC meeting minutes, scheduled later today, are likely to attract considerable attention. With policymakers having taken a more hawkish stance previously, it remains to be seen if they have altered their outlook following a dismal first quarter. Going forward, investors’ focus will shift to tomorrow’s preliminary manufacturing PMI readings from the Euro zone.