US NFP and Eurozone inflation amongst market movers today – Danske Bank

According to analysts Danske Bank, today we have a number of important events, starting with the euro area inflation print, followed by the US NFP in the evening.

Key Quotes

“We expect a decent rebound in both headline and core inflation to 1.8% y/y and 1.2% y/y, respectively, from last month's low levels driven by seasonal effects from the timing of Easter.”

“In the US, the jobs report is due out later in the day. Overall, the labour market remains strong, but we think it is important to keep an eye on whether employment growth starts to decelerate. We expect average hourly earnings to have risen +0.25% m/m in April, unchanged at 3.2% y/y. We expect nonfarm payrolls to have risen 190k.”

“Markets will digest the outcome of the UK local elections and whether it means something for May's premiership.”

“We have a lot of Fed speeches today, where we will look for any differences in views after this week's FOMC meeting.”