At 16:00 (GMT+2), May data on the consumer confidence index in the euro area will be published. The indicator is calculated based on a survey of 2.3K households that assess the prospects for the economy. It is a leading indicator for consumer spending and high readings indicate consumer optimism and vice versa. It is expected that in May the indicator will slow down the negative dynamics from the current –17.5 points to –17.0 points, which, in turn, may still put pressure on the euro.
