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Trends & Analysis
News

Broadcom’s stock jumps on profit beat, stock split

News

Crude oil reverses trend on US data

News

Is Apple’s bull run just getting started?

News

Oracle shares spike despite FQ4 earnings miss

News

EUR/USD plunges after parliament elections

News

Is a big move coming for AMD?

Trends & Analysis
News

Broadcom’s stock jumps on profit beat, stock split

News

Crude oil reverses trend on US data

News

Is Apple’s bull run just getting started?

News

Oracle shares spike despite FQ4 earnings miss

News

EUR/USD plunges after parliament elections

News

Is a big move coming for AMD?

Weekly Market Preview

Week Ahead Preview:

20th of May

 

Friday, May 17, 2024

The US Consumer Price Index (CPI) data for April, released last week, matched expectations, with the YoY headline CPI decreasing to 3.4% and the YoY core index dropping to 3.6%. This continued the market optimism initiated by the earlier US jobs report for April, which showed a weakening labor market with fewer jobs added and a decline in average hourly wages. This optimism boosted risk appetite, driving major stock indices such as the SP500 and Nasdaq to historic levels, while the US dollar declined as markets grew confident that the Federal Reserve might begin cutting interest rates in the third quarter of this year.

This week, investors are anticipating a significant set of economic data and speeches from policymakers at several major central banks. The Reserve Bank of New Zealand is expected to announce its interest rate decision, likely keeping it unchanged at 5.5% due to high inflation levels, which stabilized at 4% in the first quarter of this year. Additionally, attention will be on the British Consumer Price Index report. According to Bloomberg, the YoY headline CPI is expected to decrease from 3.2% in March to 2.1% in April. If these expectations are met, it could pave the way for the Bank of England’s Monetary Policy Committee to consider reducing interest rates at the June meeting.

 

Economic Data Highlights (As per UAE time) 

 

Monday 20th of May
  • Fed Waller, Bostic & Jefferson Speeches an
Tuesday 21th of May
  • RBA Meeting Minutes
  • ECB Lagarde’s speech
  • US Treasury Secretary Yellen speech
  • CAD- Inflation rates (Apr)
  • Fed Barr speech
  • BoE Gov Bailey speech
Wednesday 22th of May
  • RBNZ Interest rates decision
  • GBP- Inflation rates (Apr)
  • USD- Existing home sales (Apr)
  • FOMC minutes
Thursday 23th of May
  • NZD- Retail Sales (Q1)
  • EUR- Manufacturing & Services PMI (Flash- May)
  • GBP- Manufacturing & Services PMI (Flash- May)
  • USD- Manufacturing & Services PMI (Flash- May)
  • USD- New home sales (Apr)
  • Fed Bostic speech
Friday 24th of May
  • JPY- Inflation rates (Apr)
  • GBP- Retail sales (Apr)
  • SNB chairman Jordan speech
  • USD- Durable Goods orders (Apr)
  • CAD- Retail sales (Mar)
  • USD- Michigan consumer sentiment (May)

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