Germany and Spain final inflation figures for April are due

The risk mood is keeping more tepid with the dollar still holding its ground after a solid session overnight, where we saw US-China tensions continue to build and Fed chair Powell also offered a little push back against negative rates.

Asian equities are sitting lower after yet another rough time for US stocks overnight, while the aussie is pressured after a softer jobs report earlier in the day.

Despite the fall yesterday, the S&P 500 did at least stave off a decline under the 2,800 level. Let's see if dip buyers will have conviction to step in before the end of the week or there will be a potentially new theme/range develop in the market.

0600 GMT - Germany April wholesale prices data

Prior release can be found here. The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern. The drop in April should be a little more stark than March considering the lockdown measures, but we all know that April and Q2 economic conditions are likely to be the worst in the coronavirus crisis so now we just have to go through the data releases to reaffirm that sentiment.

0600 GMT - Germany April final CPI figures

Prior release can be found here. As this is the final release, it isn't expected to shift the dial in the market whatsoever.

0630 GMT - Switzerland April producer and import prices

Prior release can be found here. A proxy indicator of inflation pressures in the Swiss economy, which has also been sliding amid the decline in oil prices and the virus crisis.

0700 GMT - Spain April final CPI figures

Prior release can be found here. Much like the German reading, the release here shouldn't offer much to the market since this will capture final figures.

0800 GMT - ECB publishes its latest economic bulletin

This will relate to their 30 April policy meeting decision but all in all, it should not tell us anything we don't already know about the ECB's view and their plans at this stage.

Also, at 1030 GMT we will be hearing from BOE governor Andrew Bailey as he speaks in a webinar but I'll detail that more in a bit in a separate post.

That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.