What will investors watch closely next trading week?

The anticipation of interest rate cut or cuts by the Federal Reserve and data releases dominated the conversation for another week, during which the US dollar fluctuated. In light of this, the USD Index (DXY) appears to have started a slow downturn after reaching fresh annual highs earlier in the month. But this retraction needs to be considered provisional. The FOMC meets on May 1 and is expected to leave rates unchanged.

The US dollar had a bad week, continuing to reject yearly peaks even as US yields rose in reaction to investors’ revised assessments of when the Fed may lower interest rates for the first time. Along with the FHFA’s House Price Index and the Employment Cost Index, the Conference Board’s always relevant Consumer Confidence is due on April 30.

The Fed’s interest rate announcement on May 1 will be in the focus of attention, followed closely by the ADP Employment Change, the final S&P Global Manufacturing PMI, the ISM Manufacturing PMI, and construction spending. Furthermore, factory orders and the balance of trade statistics are due on May 2, before initial claims for unemployment benefits. The non-farm payrolls, the unemployment rate, the final S&P Global Services PMI, and the ISM Services PMI should be the markets’ main concerns as the week comes to an end.


On April 29, Germany’s preliminary inflation rate and the euro area’s final consumer confidence report are both due. The labour market report, Germany’s retail sales, the advanced Q1 GDP Growth Rate, and the flash inflation rate for the euro zone are all due on April 30. On May 2, the final HCOB Manufacturing PMI for Germany and the euro area is anticipated, followed on May 3 by the unemployment rate for the EMU.

Prior to the final S&P Global Manufacturing PMI being released on May 1, mortgage lending and approvals are due in the UK on April 30. Prior to the release of the final S&P Global Services PMI on May 3, the Nationwide Housing Prices will be revealed on May 2.

The selling pressure on the Japanese yen appears to have continued unabated, ultimately pushing USD/JPY to new highs at prices that are just below the 157.00 barrier. On April 30, the Unemployment Rate, Industrial Production, and Retail Sales are displayed on the Japanese calendar. The Consumer Confidence Index is released on May 1, while the BoJ Minutes and Foreign Bond Investment are due on May 2.

A multi-session winning run in AUD/USD was supported by the improved tone in the commodity complex and the reaffirmed selling position in the US dollar. According to data, advanced retail sales and Housing Credit are due in Australia on April 30. Prior to the announcement of the Balance of Trade figures and flash building permits on May 2, the final Judo Bank Manufacturing PMI and the Ai Group Industry Index are released on May 1. Lastly, the final Judo Bank Services PMI, Investment Lending for Homes, and Home Loan Statistics are all due on May 3.

Furthermore, it is noteworthy that on April 30, Chinese Manufacturing and Non-Manufacturing PMIs monitored by NBS will be released, preceding the Caixin gauges on May 6.