Tomorrow’s Tape: New (Worse) Forecasts for the Eurozone

By Paul Vigna

Economics:

Thin calendar.

Producer Prices (8:30 a.m.): prices overall seen easing 0.1% in April, after coming in flat in March. The core is seen rising 0.2%, after rising 0.3% in March.

Dallas Fed president Richard Fisher speaks at 9:15 a.m.

Consumer sentiment (9:55 a.m.): Preliminary reading of the Thomson Reuters/University of Michigan consumer sentiment survey seen rising to 76 in May from 75.7 in April.

Keep an eye on this: the European Commission will provide fresh economic forecasts. Brown Brothers’ Marc Chandler said this could be “the most important development in the eurozone this week.” He expects forecasts to be “cut and sharply so for several countries.”