Key events ahead: Eurogroup-Greece talks, BoE interest rate decision – Danske

FXStreet (Barcelona) - Senior Analyst at Danske Bank, Morten Helt, previews the key events ahead for the day – eurogroup meeting, and BoE interest rate decision.

Key Quotes

“Focus will be on Greece and the Eurogroup meeting. Last week the European Commission published a joint statement after president Juncker and Greek Prime Minister Tsipras spoke on the phone. According to the statement there was progress in the talks and notably they discussed the importance of reforms to the pension system and labour market, which have previously been ‘red lines’ for the Greek government. If progress continues, it could result in some kind of a supportive statement from the Eurogroup but we continue to see the summer crunch time as the real deadline.”

“The meeting in Bank of England (BoE) is not expected to lead to any changes and we do not expect a press release. We will get more information on the BoE’s views in the Inflation Report on Wednesday this week.”

“Otherwise focus this week will be on US retail sales for April, which should finally show a rebound. China releases data on industrial production and retail sales while focus in the euro area will be on GDP for Q1.”