UK employment data and euro area consumer confidence in focus today – Danske Bank

Research Team at Danske Bank, suggests that today's calendar is thin but we still have a few interesting releases and the most important one is the UK labour market report for May due 10:30 CEST.

Key Quotes                               

“While the report is covering the period before the UK's EU referendum, it will give us important information about how the economy performed in the period ahead of the EU vote. Labour market data for January-April have shown that the recovery slowed in H1 16 and if the May report tells the same story, it may be an early warning that uncertainties could hit the labour market further post-Brexit. 

Flash estimate for euro area consumer confidence in July is due 16:00 CEST. The figure is one of the first releases for the euro area covering the post-Brexit period. While we expect euro area to be hit the most by lower investments due to falling business sentiment, we also think private consumption growth will slow in H2 due to lower consumer confidence.”