From Eurozone, on Wednesday, M3 Money Supply figures were released. The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in March 2016, after 4.9% in February, averaging 5.0% in the three months up to March. This was in line with the market forecasts.The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) stood at 10.1% in March, compared with 10.2% in February.

From Eurozone Spanish and German CPI, Spanish Unemployment Rate and German Unemployment Change data was released on Thursday. The unemployment rate in Spain rose unexpectedly last month, official data showed on Thursday. In a report, Ministry of Labour and Immigration said that Spanish unemployment rate rose to an annual rate of 21.00%, from 20.90% in the preceding month. Analysts were anticipating no change. Separate report, on Spanish CPI also missed market expectations. While analysts were predicting 0.7% decrease, inflation fell by 1.1% in March, following 0.6% decrease in February. This decrease is mainly explained by lower prices of package holidays and electricity.

The number of unemployed people in Germany fell for the seventh straight month in April, while the unemployment rate held steady at an all-time low.The number of unemployed people fell by a seasonally adjusted 16,000 from a month earlier, compared to forecasts for a gain of 1,000. Jobless claims fell by 3,000 in March, whose figure was revised from a previously reported flat reading. The rate of unemployment in Germany remained unchanged last month. In a report, German Federal Statistical Office said that German unemployment rate remained unchanged at a seasonally adjusted 6.2%, from 6.2% in the preceding month. Analysts had expected German unemployment rate to remain unchanged at 6.2% last month.

Friday brought CPI, Spanish GDP and German Retail Sales data. Euro area annual inflation is expected to be -0.2% in April 2016, down from 0.0% in March. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in April (1.0%, compared with 1.4% in March), followed by food, alcohol & tobacco (0.8%, stable compared with March), non-energy industrial goods, (0.5%, stable compared with March) and energy (-8.6%, compared with -8.7% in March). Spain’s gross domestic product rose more-than-expected last month, official data showed on Friday. In a report, Instituto Nacional de Estadistica said that Spanish GDP rose to 0.8%, from 0.8% in the preceding month. Analysts had expected Spanish GDP to rise 0.7% last month.

Elsewhere, Federal Statistical Office (Destatis) reported that retail turnover in March 2016 in Germany increased in real terms 0.7% and in nominal terms 0.6% compared with the corresponding month of the previous year. The number of days open for sale was 25 in March 2016 and 26 in March 2015. When adjusted for calendar and seasonal variations  the March turnover was in real terms 1.1 % and in nominal terms 0.9% smaller than that in February 2016.

This week markets will be looking at:

Spanish Manufacturing PMI (Monday 09:15)

Italian Manufacturing PMI (Monday 09:45)