In view of the analysis team at Danske Bank, today is a quiet day in terms of economic data releases with the UK’s labour market report for March being the most important economic data release.
“We estimate the unemployment rate (3M average) was unchanged, as there is still no evidence that Brexit uncertainties and slower growth have hit the labour market. We estimate the annual growth rate in average weekly earnings ex bonuses (3M average) fell from 2.2% to 2.1%, meaning that nominal wage growth continues to be subdued despite higher inflation.”
“The euro area final HICP figures for April are due out. The details should be especially interesting for April, as they should reveal to what extent Easter drove the inflation figure up.”