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Peter Chatwell and Antoine......>

EUROPE DATA PREVIEW
EUROPE DATA PREVIEW: Peter Chatwell and Antoine Bouvet at Mizuho write that the
ZEW data at 1000GMT today will be interesting to assess the threat of Trump's
trade tariffs. However, they write "given the lack of detail regarding the
countries that tariffs will ultimately apply to, and about potential
retaliations, respondents will likely stick to a prudent line. Beyond this, we
think the importance of the results should not be overstated, especially
compared to the more broad-based PMIs and IFO released later this week."

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