Industrial production data leads the way in the European time zone. The French data should show expansion (again mocking the relentless negativity of the PMI manufacturing sentiment data). The UK data should also be positive, signalling economic growth beneath the politics of the election.
Yesterday's initial jobless claims showed further strength in the US labour market, in the wake of stronger JOLTs figures this week. We hear from Lacker and Kocherlakota of the Fed today, no doubt reflecting the broad spectrum of opinion at the Fed.
US import and export prices are due. Import prices will likely be subdued by energy imports (and weak finished goods PPI inflation from US firms will likely be matched by foreign competitors). Export prices from the US will be weakened by the FX translation effect (unchanged foreign currency prices converted into strong dollars).'
China's consumer price inflation was a little stronger than expected - Chinese CPI has a strong food bias to it, so this does not really translate into international markets. Mexico's inflation (published yesterday) was also stronger than expected.