According to analysts at Danske Bank, today is a very busy day in terms of economic data releases as this morning PMI manufacturing indices for many European countries are due out.

“In the euro area, we get unemployment data for February and preliminary HICP inflation at 11:00 CEST. Although we still expect core inflation to climb higher in 2019, we expect the March core inflation print to remain at 1.0% y/y, as the Easter effect will exert downward pressure on service price inflation. For headline inflation we see scope for a rise to 1.7% y/y, driven by increasing energy prices. In the US, there are plenty of data releases as well. At 14:30 CEST, retail sales are due out, which will be interesting given the weakness in recent months. We expect core retail sales rose +0.5% m/m in February. At 16:00, ISM manufacturing for March is due out, which, given the regional PMIs, may increase marginally.”