• Today's calendar is exceptionally light with only a handful of second tier surveys due. In UK, the CBI Industrial Trends survey for April (1000 GMT) will provide an update on sentiment in the manufacturing sector going into Q2. Coinciding with the firming in the manufacturing PMI over the first quarter, the CBI survey has also pointed to some stabilization in activity and today's outturn will provide an opportunity to refine estimates ahead of the more closely followed manufacturing PMI on Friday, says Lloyds Bank. 
   
• In the US, the 'Markit' services PMI for April (1345 GMT) will give some early insight into the outlook for the largest area of the economy. While there has been some disconnect between the PMI and the ISM over the past couple of months, both surveys have broadly pointed to the likelihood of firmer activity over the coming months. Today's release should provide a base for expectations for Q2, following some signs of a temporary slowdown in activity in Q1, according to Lloyds Bank.