All eyes on the Fed’s interest rate decision on Friday.

Next week’s market movers

1. China’s Manufacturing (Mfg) PMI for April and Germany’s preliminary HICP rate for April could grab the market’s attention on Monday.
2. RBA’s interest rate decision, Canada’s GDP growth rate for April, and the US ISM Mfg PMI for April could move the market on Tuesday.
3. On Wednesday we’ll have a busy day as Fed’s Interest Rate Decision, New Zealand’s employment data for quarter 1 (Q1), China’s Caixin Mfg PMI for April, Eurozone’s preliminary GDP growth rate for Q1, Eurozone’s unemployment rate for March and the ADP National employment will be released.
4. On Thursday the market is expected to shift its focus to the UK for the release of the Services PMI for April, to Europe for Eurozone’s preliminary release of the CPI rate for April and Norge’s Bank interest rate decision and last to the US for the ISM Non Mfg PMI for April.
5. Last but not least, on Friday, all eyes are expected to be on the US employment report for April.

The coming week is expected to have a number of financial data releases which could be the market’s center of discussion.

On Monday, during the Asian morning we get China’s NBS Manufacturing PMI for April. The indicator is forecasted to drop a bit reaching 51.3 compared to previous reading of 51.5. Should the actual figure meet the forecast we could see the Aussie and the Kiwi weakening as the drop could imply that exports to China could be reduced, especially as the Caixin Mfg on Tuesday is forecasted to have a similar direction.

Later we get Germany’s preliminary HICP rate for April. The rate is forecasted to remain unchanged at +1.5% year on year (yoy).

Should the actual rate meet the forecast we could see the common currency slipping as such an outcome could be perceived by the market as a continuation of the stagnancy in Eurozone’s financial data.

On Tuesday…

Week Ahead April 30th to May 4th