Europe: Services PMI, ECB speak and Norges Bank in focus today - TDS

The research team at TDS points out that Norges Bank’s latest rate decision in addition to ECB speak and services PMI will be in the limelight for today’s session.

Key Quotes

“NOK: Today we have the Norges Bank’s latest rate decision. This is not an MPR meeting, so there will be no changes to the policy rate forecast or other projections. The one inflation datapoint since the last Norges Bank meeting surprised to the downside, so we’ll be watching for how the Norges Bank weighs that against financial stability risks from the housing market. We maintain the ongoing risk of a dovish surprise, due to constantly disappointing inflation data.”

“EUR: Final readings for April services PMIs, but it’s busy for ECB speak. Lautenschlaeger speaks at 11:30am BST at a technical workshop on Brexit, Praet speaks at noon at the Belgian Financial Forum, Mersch speaks at 12:35pm at an ICMA conference, Dombret speaks at 4:15pm, and last but not least, Draghi speaks at 4:30pm at an award presentation for the Fondation Jean Monnet pour l’Europe.”