Here is what you need to know about the important news between April 25th 2022 and April 29th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
Investors will be eyeing a deluge of earnings in the coming week, including reports from tech titans Apple, Microsoft, Amazon and Google parent Alphabet amid hopes that solid corporate earnings will bolster U.S. equity markets, which have been rocked by the Federal Reserve’s hawkish pivot. Meanwhile, both the U.S. and the Eurozone are to release preliminary data on first quarter growth along with what will be closely watched inflation readings. Here’s what you need to know to start your week.
U.S. dollar index
Also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners. The indicator rose 0.2% to 101.3 testing last week’s two-year peak of 101.33..
Gold
was down 0.7% at $1,916.41 per ounce, as of 05:45 GMT, earlier hitting its lowest since March 29 at $1,914.58. U.S. gold futures were down 0.9% at $1,917.40.
Oil
Brent oil futures fell 2.81% to $103.17 by 1:18 AM ET (5:18 AM GMT) after hitting $103.41, its lowest level since Apr. 12, earlier in the session. WTI futures slid 2.79% to $99.22, after falling to $98.93, the lowest since Apr. 12, earlier. Both Brent and WTI benchmarks lost nearly 5% during the previous week.
Us Stocks
Wall Street’s three main benchmarks ended in negative territory for the week on Friday, in what was the third straight week of losses for both the S&P 500 and the Nasdaq, while the Dow Jones Industrial Average posted its fourth weekly decline in a row.
Central Bank
International central banks were quite active this week.
US Federal Reserve (FED)
Federal Reserve Chairman Jerome Powell is shifting monetary tightening into a higher gear. His goal sounds straightforward—lift interest rates to “neutral,” a setting that neither spurs nor slows growth.
But there’s a catch: Even in normal times, no one knows where this theoretical level is. And these aren’t normal times. There are good reasons to think the ground beneath the central bank’s feet is shifting and that, after accounting for elevated inflation, neutral may be higher than officials’ recent estimates.
European Central Bank (ECB)
The ECB policy decision and press conference are in focus this week, with investors waiting to see how president Lagarde tries to find a solution to stop inflation increase, while popping up a weak growth outlook.
Bank of England (BOE)
The Bank of Japan is set to maintain ultra-low interest rates on Thursday and hold off from major tweaks to its dovish policy guidance, as rising raw material costs force it to focus on underpinning a fragile economic recovery
Other important economic data is as follows: (All times listed are GMT+3)
Monday, April 25, 2022
All Day: Holiday – New Zealand – ANZAC Day
Tuesday, April 26, 2022
15:30: USD – Core Durable Goods Orders (MoM) (Mar)
17:00: USD – CB Consumer Confidence (Apr)
17:00: USD – New Home Sales (Mar)
Wednesday, April 27, 2022
14:30: EUR – ECB President Lagarde Speaks
17:00: USD – Pending Home Sales (MoM) (Mar)
17:30: USD – Crude Oil Inventories
19:00: EUR – ECB President Lagarde Speaks
Thursday, April 28, 2022
Tentative: JPY BoJ Monetary Policy Statement
Tentative: JPY BoJ Outlook Report (YoY)
Tentative: JPY BoJ Press Conference
15:30: USD GDP (QoQ) (Q1)
15:30: USD Initial Jobless Claims
Thanks for reading! Have a great week!
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