Factory orders. Germany, 08:00 (GMT+2) 07 May

At 02:30 (GMT+2), Japan will publish the April service PMI from the national Ministry of Economy, Trade, and Industry. The indicator reflects the total cost of services purchased by companies in key service industries (excluding manufacturing) and is a leading indicator for the Tankan business activity index. It may rise from 50.0 points to 52.2 points, supporting the yen.

At 11:00 (GMT+2), the EU will publish its March retail sales data, measuring the total of all goods retailers sold each month based on samples of outlets of different types and sizes. It is an important indicator of consumer spending and has a significant impact on the region’s gross domestic product. It may change from 0.3% to –0.1% MoM and 2.3% to 1.8% YoY, putting pressure on the euro.