Focus will be on the situation in Ukraine again after the international agreement to avert wider conflict in Ukraine faltered on Monday. Today US Vice President Joe Biden meets with Ukrainian Acting President and Prime Minister.
In terms of data releases we have a thin calendar. Most interesting will be US existing home sales. We expect it to lie flat on the month, whereas consensus is for a decline.
In the euro area consumer confidence for April is released and we expect a small increase. Last month it increased to the highest level since end-2007 after it trended upwards during 2013. The change in consumer sentiment indicates higher private consumption in the euro area in 2014.
Early tomorrow morning the Chinese flash estimate for the Markit/HSBC manufacturing PMI for April is released and we expect it to continue to decline to 47.6 from 48.0 in March. Currently, it looks like April will mark the bottom.
In the Scandi markets focus will be on Swedish unemployment.
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