UK retail sales and US jobless claims amongst market movers today – Danske Bank

The research team at Danske Bank points out that its going to be another quiet day today in terms of data releases but markets will continue to follow the political development in the US after a very bad week for President Trump and his administration.

Key Quotes

“In the US, initial jobless claims data as well as the Philly Fed index for May are due out today. We expect the Philly Fed index to have fallen, as it has overshot ISM/Markit PMIs, supporting our view that the US manufacturing cycle has peaked.”

“In the UK, retail sales for April are due out, which will attract attention after plunging in Q1.”

“The ECB's Mario Draghi is due to speak in Tel Aviv, but we do not expect him to express anything new on the policy outlook.”