The week ahead – All Eyes on FED Meeting & Non-Farm Payrolls

Key Upcoming Events:

• US ISM Manufacturing PMI 17:00 (GMT+3) Wednesday 1^st May
• US Interest Rate Decision 21:00 (GMT+3) Wednesday 1^st May
• US Non-Farm Payrolls 15:30 (GMT+3) Friday 3^rd May

Anticipation for Federal Reserve Meeting: With the Federal Reserve’s next meeting scheduled for Tuesday and Wednesday, all eyes will be on any signals regarding future monetary policy adjustments. The focus will be on how the Fed plans to address the ongoing inflationary pressures amidst signs of slowing economic growth. The outcome of this meeting could be critical in determining the market’s direction in the coming weeks.

US Economic Data: The spotlight will be on Friday’s release of the April nonfarm payrolls report which will provide further insights into the labour market’s strength following March’s better-than-expected job additions. Additionally, the upcoming week features releases such as ISM manufacturing and non-manufacturing PMIs, the consumer confidence index, JOLTS job openings, and the ADP employment survey, all of which will provide further insights into the U.S. economic landscape.

Earnings Season Continues: Amazon and Apple are scheduled to release their earnings reports, with Amazon expected to show substantial growth and Apple facing concerns over reduced demand in China. Amazon’s revenue is projected for a significant increase, while Apple anticipates a decline in both revenue and earnings.

Eurozone GDP and CPI: Tuesday brings critical updates with preliminary Q1 GDP and April CPI data. The Eurozone is expected to have grown by 0.2% in Q1 and inflation is anticipated to remain at 2.4% in April. These figures are expected to heavily influence the ECB’s decisions on the pace and extent of future rate cuts, with market participants currently anticipating a potential cut as soon as June.

This week the markets will be closely following economic data & earnings reports such as:

Monday:

• EU Economic Sentiment APR
• DE Inflation Rate Prel APR
• US Dallas Fed Manufacturing Index APR

Tuesday:

• JP Unemployment Rate MAR
• CN Caixin Manufacturing PMI APR
• EU GDP Growth Rate QoQ Flash Q1
• EU Inflation Rate YoY Flash APR
• CA GDP MoM Prel MAR
• US CB Consumer Confidence APR
• Earnings Reports:
  • Amazon.com, Inc.
  • Eli Lilly and Company
  • The Coca-Cola Company.
  • Advanced Micro Devices, Inc.
  • McDonald’s Corporation

Wednesday:

• GB S&P Global Manufacturing PMI Final APR  
• US ADP Employment Change APR
• US S&P Global Manufacturing PMI Final APR  
• US ISM Manufacturing PMI APR
• US JOLTs Job Openings MAR   
• US Fed Interest Rate Decision
• Earnings Reports:
  • Mastercard Incorporated
  • QUALCOMM Incorporated
  • Pfizer Inc.

Thursday:

• JP BoJ Monetary Policy Meeting Minutes
• CH Inflation Rate MoM APR
• EU HCOB Manufacturing PMI Final APR
• US Factory Orders MoM MAR
• Earnings Reports:
  • Apple Inc.
  • Novo Nordisk A/S

Friday:

• GB S&P Global Services PMI Final APR
• EU Unemployment Rate MAR
• US Non-Farm Payrolls APR
• CA S&P Global Composite PMI APR
• US ISM Services PMI APR

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