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Key Upcoming Events:
Fed Minutes and Market Expectations: The minutes from the Fed’s May policy meeting, along with various Fed speakers, will provide insights into the Fed’s rate path. Market participants will be keen on any indications of a rate cut timeline. Additionally, US data on home sales, durable goods orders, and PMI surveys will draw attention.
UK Inflation: Focus shifts to UK inflation data on Wednesday. If consumer price growth eases further, it could raise expectations of a Bank of England rate cut on June 20th. The headline CPI is expected to fall, potentially aligning with the BoE’s target.
Japan Inflation: Japan’s inflation report for April is due on Friday. Core CPI is expected to drop from 2.8% to 2.2%. This, combined with shrinking GDP, may delay any rate hikes by the BoJ until at least September.
Nvidia’s Q1 Results: Nvidia is set to announce its first-quarter earnings, with expectations running high. As a leader in the artificial intelligence space, Nvidia’s results will serve as a critical barometer for the AI industry. Strong performance could propel Wall Street to new record highs.
This week the markets will be closely following economic data & earnings reports such as:
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Friday: