UK and Eurozone manufacturing PMIs in focus - TDS

The research team at TDS points out that today we get the final April manufacturing PMIs for the Eurozone and UK which are likely to be the key economic releases for the day.

Key Quotes

“Also of note, the ECB’s Nowotny is scheduled to speak at 5pm BST at an event in Vienna, “Negative rates: cheap money with expensive consequences?” After Draghi’s dovish tone at last week’s press conference, we’ll be looking to hear from other ECB members about how much support there is for changing the ECB’s forward guidance as soon as the June meeting. The ECB’s Nuoy is also speaking at 4:20pm BST.”  

“UK: We’re in line with consensus in looking for the manufacturing PMI to pull back slightly from 54.2 down to 54.0 in April. Last month’s survey showed new order growth continuing to slow, with particular weakness in consumer-facing industries, and so far we haven’t seen any signs to suggest a major turnaround in that area.”