EUROPEAN SESSION
In the European session, the only highlight is the Spanish Flash CPI report. Headline CPI Y/Y is expected at 3.0% vs 3.2% prior, while the HICP Y/Y is seen at 3.4% vs 3.6% prior. Gradual cooling in headline inflation is expected given the drop in energy prices.
Looking ahead, we just get a couple of low tier data like Eurozone money supply and Spanish business confidence that is not going to change anything for the ECB, so the market reaction will be muted.
AMERICAN SESSION
In the American session, we just have the US Dallas Fed Manufacturing index which is expected to tick higher to 1.0 vs 0.4 prior. This is a low tier indicator and rarely a market moving release. The focus this week will be on the US NFP report, but given that the Fed has shifted its focus to inflation, the CPI is likely going to be more important.
CENTRAL BANK SPEAKERS
17:30 GMT/13:30 ET – ECB President Lagarde (neutral – voter)
This article was written by Giuseppe Dellamotta at investinglive.com.