In the absence of any major triggers on the domestic macroeconomic front, focus among Sterling investors is likely to remain on the minutes of BoE’s latest policy meeting scheduled for release tomorrow. Although the publication is not anticipated to show any changes in voting pattern among policy-setters, the minutes will be scrutinised for gauging the timing of an interest rate rise in the UK.In the Euro zone, April’s ZEW survey is expected to show that morale among German investors improved for a fifth straight month, supporting confidence among financial market participants in the region. Across the Atlantic, tomorrow’s housing market surveys will attract significant attention to gain an insight into the nation’s real estate sector’s health for the first quarter of 2015.
On Friday, a report revealed that the unemployment rate in the UK nudged lower amid a firm pace of growth in the nation’s labour market. However, the print failed to keep the Pound buoyed against its key peers. With a quiet start this week in terms of economic releases, the focus among Sterling investors is likely to be on the minutes of the BoE’s latest policy meeting scheduled for release this Wednesday.Across the Atlantic, a print on Friday showed that core consumer prices for March rose in line with expectations. Separately, in a speech over the weekend, the ECB Chief, Mario Draghi, warned that a “Grexit” might push the Euro zone’s economy into “uncharted waters” and urged Greece to quickly reach an agreement with its creditors.
The just out labour market report in the UK has revealed that hiring pace in the nation remained robust and domestic wages continued to grow at a firm rate for the three months ended February, thereby offering evidence that spare capacity in Britain’s jobs market continued to fall, despite stalled consumer prices in the UK.Across the Atlantic, investors will keep a tab on today’s inflation data in the US which is expected to show that growth in consumer prices, excluding food and energy, remained unchanged for March. Additionally, the preliminary Reuters/Michigan consumer sentiment survey will be noted today to gain an insight into the health of domestic spending for April.