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European Economics Preview: Germany Foreign Trade Data Due

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Foreign trade data from Germany and mortgage approvals from the UK are the major statistical reports due on Wednesday.

At 2.00 am ET, Destatis is slated to issue Germany’s foreign trade data for March. Exports are forecast to fall 2.0 percent on month, while imports are expected to climb 1.0 percent.

At 3.00 am ET, Spain unemployment data is due. Also, retail sales from Hungary and Slovakia are due.

At 3.15 am ET, S&P Global releases Spain’s services Purchasing Managers’ survey results. The services index is forecast to rise to 55.9 in April from 53.4 in the previous month.

At 3.45 am ET, Italy services PMI data is due. The services PMI is seen at 54.5 in April versus 52.1 in the previous month.

Thereafter, final PMI survey results are due from both France and Germany.

At 4.00 am ET, S&P Global publishes eurozone final PMI results. The composite index reading is seen at 55.8, in line with flash estimate.

Half an hour later, the Bank of England is scheduled to issue UK mortgage approvals data for March. The number of mortgage approvals is seen at 70,700 in March compared to 70,990 in February.

At 5.00 am ET, Eurostat is slated to release Euro area retail sales data. Economists forecast sales to drop 0.1 percent on month in March, reversing a 0.3 percent rise in February.

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