Market Update: European Indices Point Higher, ECB, Fed, and BoE Speakers on Agenda

• European indices prepare to open higher

• New York Fed Index for May at 1:30pm BST

• Speeches by members of the ECB, the Fed and the BoE

Futures markets point higher at the opening of the European cash session. This comes after an earlier upbeat listing in Asia-Pacific with indices in the region posting small gains. Risk-on moods can be detected in the forex market with antipodal currencies (AUD and NZD) leading the way while safe havens (JPY, USD, CHF) lag behind. Cryptocurrencies are trading higher with Bitcoin gaining 2% and surpassing $27,000. Oil is trading slightly lower.

The economic calendar for today is light as is often the case on Mondays. Investors will be offered euro zone industrial production data for March, as well as the New York Fed manufacturing index for May. The New York Fed index experienced a massive jump in April and stood out clearly among other US regional indices, so it will be closely watched. Other than that, traders will hear from various central bankers from the ECB, Fed and BoE in the afternoon.

10am BST – Poland, April CPI inflation (final). First issuance: 14.7% YoY

10:00am BST – Euro zone, March industrial production. Expected: -2.5% Monthly. Previous: 1.5% monthly

1:30pm BST: US and New York Fed manufacturing index for May. Expected: -2.5. Previous: 10.8

13:30 BST – Canada, March wholesale trade. Forecast: -0.4% intermonth. Previous: -1.7% intermonthly

central bankers speeches

• 13:10 BST – BCE Nagel

• 1:45 p. m. BST – Fed Bostic

• 2:15 pm BST – Fed Resumes

• 5:00pm BST – BoE Pill

• 5:30 p. m. BST – Fed Barkin

• 22:00 BST – Fed Cook

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