U.S. Budget Expected to Swing from Deficit to Surplus

The U.S. monthly budget statement showed a deficit of $161 billion in March, while April’s budget is expected to swing to a surplus of $235 billion. This anticipated shift is primarily due to seasonal factors, and most notably, April is when individual income tax payments are due, leading to a substantial increase in government revenues. Historically, April tends to be one of the few months when the U.S. Treasury posts a surplus, offsetting deficits from earlier in the fiscal year. This data is set to be released today at 18:00 GMT.

Markets Await Key Inflation Figures from Denmark

Denmark’s month-over-month inflation rate for March declined by 0.5%, while April's figure is expected to rebound to 0.2%. On a year-over-year basis, inflation stood at 1.5% in March, with April’s rate forecast to rise slightly to 1.6%. This modest uptick is likely due to base effects from last year’s lower price levels, along with a mild recovery in consumer demand and seasonal price adjustments, especially in energy and food categories, as the economy transitions into spring. The expected month-on-month increase reflects stabilization after March's temporary deflationary dip, which may have been driven by post-winter discounting or falling energy costs. This data is set to be released today at 06:00 GMT.

Easter Bump? U.K. BRC Sales Forecast to Rise

The U.K. BRC Retail Sales Monitor rose by 0.9% in March, with April's figure expected to improve to 1.3%. This anticipated uptick likely reflects a rebound in consumer spending driven by warmer weather, the Easter holiday period, and slight improvements in consumer confidence. Seasonal shopping trends, particularly in food, clothing, and home goods, typically boost retail activity in April, while lower inflation and wage growth stability may also support stronger year-on-year comparisons. This data is set to be released today at 23:01 GMT.