The US and China will begin a fresh round of talks in Beijing today, 30 April. US Trade Representative Robert Lighthizer will meet with Chinese Vice Premier Liu He in an attempt to avoid the implementation of further tariffs and to resolve the ongoing trade dispute, which is having a negative impact on global growth.
Across the pond, the Eurozone will release a plethora of data, including Gross Domestic Product figures for the bloc at 10:00 (GMT) followed by the German Consumer Price Index (CPI) at 12:00.
With Germany’s manufacturing sector suffering and Italy in recession, Eurozone growth has been waning of late. However, it is expected that growth will have improved from 0.2 per cent to 0.3 per cent in the first quarter of the year. If the data misses the forecast that may have negative consequences for the single currency. The Euro traded at 22-month lows last week and could drop back to around 1.1100.
The German CPI is expected to show a month-on-month improvement from 0.4 per cent in March to 0.5 per cent in April. Any miss in the read or any sign that German inflation is stagnating will add to the pressure the Euro is under. What is more, a lack of inflationary pressure from Europe’s largest economy will fuel the European Central Bank’s (ECB) current dovish stance and push back any plans for rate rises even further.
Dollar weakens on confusing data
Germany cuts GDP forecast, again
Data provided by