Daily digest market movers: Retail Sales lookout
- At 12:30 GMT, most of the US data will be released:
- The NY Empire Manufacturing Index for April is expected to rise to -9, from the -20.9 reading of the previous month.
- The US Census Bureau will publish the Retail Sales for March:
- Retail Sales are expected to increase 0.3% on a monthly basis in March following the 0.6% increase seen in February.
- Retail Sales excluding transportation are expected to increase 0.4% in the month, slightly higher than the 0.3% registered in February.
- At 14:00 GMT, the February Business Inventories data will be released. Markets are expecting a 0.3% increase from the previous month.
- At 15:30 GMT, the US Treasury will auction a 3-month and a 6-month bill.
- Equities are in the green in Europe, with the German Dax up over 1%. US equity futures are also in the green, over 0.50% ahead of the US opening bell.
- According to the CME Group’s FedWatch Tool, expectations for a Fed pause in the May meeting are at 97.4%, while chances of a rate cut stand at 2.6%. The odds of a September rate cut have increased and are now higher than a cut at the June meeting.
- The benchmark 10-year US Treasury Note trades around 4.56%, slightly higher than the opening price for this week at 4.53%.
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