In macro news:
Key events in the US this week:
Tuesday (4/29): - Consumer Confidence data (Conference Board) – relevant for assessing economic sentiment and potential demand.
- Job Openings and Labor Turnover Survey (JOLTs) for March – critical monitoring of labor market trends.
Wednesday (4/30): - ADP report (private sector employment data) – provides an early indication for the government employment report.
Q1 2025 GDP – initial estimate for economic growth at the start of the year.
- PCE index (core inflation) for March – the Fed's preferred inflation gauge!
Friday (5/2): - Official employment report (Non-Farm Payrolls) for April – the most important economic data point before the upcoming interest rate decision.
Important points: - This is the last week before the Fed's May meeting (May 7), and therefore, every data point – especially inflation and employment – can affect the market and shape expectations for the interest rate decision.