A quiet start to the week, with China, UK & US all having bank holidays. The most significant event tonight is ECB President Mario Draghi’s testimony about the economy and monetary developments before the Economic and Monetary Affairs Committee in Brussels.

Taking a look at the major data releases for the rest of the week:

Tuesday – Australia Building Approvals, German Prelim CPI and Spanish Flash CPI. Bank Holiday in China.

Wednesday – US CB Consumer Confidence, Manufacturing/Non-Manufacturing PMI from China, German Retail Sales.

Thursday – US Pending Home Sales and ADP Non-Farm Employment Change, Private Capital Expenditure and Retail Sales from Australia, Caixin Manufacturing PMI from China, UK Manufacturing PMI.

Friday – US Non-Farm Employment Change, Average Hourly Earnings, Unemployment Rate, Trade Balance and ISM Manufacturing PMI. Italian bank holiday.