Upcoming Earnings This Week:
Major Upcoming News
The week ahead is a busy one for markets, featuring the Federal Reserve’s latest policy meeting, the release of the latest U.S. employment report on Friday, and the final earnings reports from the ‘Magnificent Seven’ big tech companies. This week also features several other key market-moving events to keep an eye on.
Tuesday, April 30, 2024
Both Manufacturing and Non-Manufacturing PMI are scheduled to be released in China at 5:30 AM (Dubai Time). The market expects a decline in both, indicating a potential weakness in the manufacturing sector. Should this scenario occur, analysts expect a corresponding drop in crude oil prices, given China’s position as one of the leading importers of crude oil.
Wednesday, May 1, 2024
Wednesday holds the release of major U.S. data such as the ADP Non-Farm Employment Change at 4:15 PM, ISM Manufacturing PMI at 6:00 PM, and JOLTS Job openings at 6:00 PM (Dubai Time). Forecasting across all 3 suggests a potential downturn, hinting at a possible decrease in economic activity in the United States. Such development could likely lead to a decline in the dollar’s value, according to analysts.
Furthermore, we have the Federal Reserve interest rate decision at 10:00 PM (Dubai Time), with expectations that the rate will remain unchanged at 5.50%. Following this, the FOMC Press Conference at 10:30 PM (Dubai Time), will be closely watched by investors waiting for indications of whether the Fed still expects to cut interest rates at some stage this year. Any hints of a hawkish tone during the conference could likely increase the U.S. Dollar’s value and limit gold gains, analysts explain.
Friday, May 3, 2024
The Non-Farm Employment Change is scheduled to be released at 4:30 PM (Dubai Time), offering crucial insights into the U.S. labor market. Forecasts hint a potential decline in the figure, signaling weakness in the labor market. Analysts expect this outcome to trigger a depreciation in the value of the U.S. Dollar.
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