The week ahead – All Eyes on FOMC Minutes

Key Upcoming Events:

• UK Inflation Rate 09:00 (GMT+3) Wednesday 22^nd May
• US FOMC Minutes 21:00 (GMT+3) Wednesday 22^nd May
• JP Inflation Rate 02:30 (GMT+3) Friday 24^th May

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 20^th. 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:

Monday:

• Earnings Reports:
  • Palo Alto Networks, Inc.

Tuesday:

• AU RBA Meeting Minutes
• DE PPI APR
• CA Inflation Rate APR  
• Earnings Reports:
  • Lowe’s Companies, Inc.

Wednesday:

• JP Reuters Tankan Index MAY
• NZ RBNZ Interest Rate Decision
• GB Inflation Rate APR
• US Existing Home Sales APR
• US FOMC Minutes        
• Earnings Reports:
  • NVIDIA Corporation
  • PDD Holdings Inc.
  • The TJX Companies, Inc.
  • Analog Devices, Inc.

Thursday:

• EU HCOB Composite PMI Flash MAY
• GB S&P Global Composite PMI Flash MAY
• US S&P Global Composite PMI Flash MAY
• US New Home Sales APR
• Earnings Reports:
  • Intuit Inc.
  • Medtronic plc

Friday:

• JP Inflation Rate APR
• DE GDP Growth Rate Final Q1
• GB Retail Sales APR
• CA Retail Sales MAR
• US Durable Goods Orders APR
• US Michigan Consumer Sentiment Final MAY 

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