Week ahead On Economic Data Releases
A series of economic data releases that will have an impact on the world’s financial landscape in the upcoming weeks are eagerly anticipated by everyone. Investors and experts alike will be closely monitoring a wide range of economic data, including employment statistics, inflation rates, and manufacturing and services sector activity, from the US to Europe and Asia. All eyes are on the US Federal Reserve‘s interest rate decision and the April jobs report. The unemployment rate is predicted to have risen to 3.6%, and the US economy is predicted to have added 181k posts last month, the fewest since December 2020. Additionally, a 0.3% month-over-month increase in average hourly earnings is predicted.
To cool the economy and lower rising inflation, officials are anticipated to increase rates by a final 25 bps. Most investors anticipate a 25bps increase, and the European Central Bank is anticipated to increase borrowing costs for the seventh time in Europe. From a more than one-year low of 6.9% in March, the annual inflation rate in the Euro Area is expected to slightly increase to 7% in April. The Norges Bank of Norway is also expected to increase its benchmark interest rate by 25 basis points to 3.25%.
NewsOTG gathered amid growing worries that the Chinese economy may be slowing, all eyes will be on China’s PMI figures for April, which will be closely watched by the financial and commodity markets. Investors will also be anxiously anticipating April’s PMI data from South Korea and India, as well as expected GDP growth numbers from Hong Kong, Taiwan, and Indonesia. Important information will also be released in Australia and New Zealand. Following a significant slowdown in Australian inflation in March, the Reserve Bank of Australia is anticipated to maintain its cash rate at 3.6% for a second consecutive meeting. New Zealand is about to make available a number of labor statistics for the first quarter.
All told a flurry of economic data releases that are expected to have a significant impact on both investors and traders are expected to make the upcoming weeks for the global financial markets interesting. Investors and experts will be closely examining the most recent indications from the US to Europe and Asia to get a better understanding of the state of the world’s main economies and to decide on their investment strategy.