Producer Price Index. Germany, 08:00 (GMT+2) 20 May

At 08:00 (GMT+2), Germany will publish the April producer price index, a key indicator of inflation dynamics that tracks monthly changes in the prices of goods and services provided by manufacturers and has a significant impact on the decisions of monetary authorities. If the indicator continues its downward trajectory from 2.5% MoM and minus 0.2% YoY, this would likely exert downward pressure on the euro exchange rate.