macrodata

🌍📉 Key Week: More Geopolitical Tension, Increased Volatility, and a Market Eyeing Gold and AI

Next week is packed with macro signals that could move the markets in a matter of hours.

🔥 Geopolitics Heating Up.

Reports indicate that the U.S. and Israel might resume strikes against Iran as early as this week. This adds immediate risk for gold maxis, who have already been pushing the metal as a safe haven.

🏦 Central Banks in Focus.

- G7 Meeting until May 19.
- Key speeches from Waller (Fed) and Paulson (FOMC 2026).
- On Thursday, the minutes from the last "Powell Era" meeting will be released, at a time when the market is starting to price in more rate hikes.

📊 Data That Could Move the Market.

- ADP Employment.
- Unemployment Claims.
- Housing (starts and permits).
- Philadelphia Manufacturing Index.
- Michigan Consumer Sentiment and Inflation Expectations.

All this in a context where consumer spending remains under inflationary pressure.

🧠📈 AI and Consumption: The Two Pillars of the U.S. Equity Market.

The week will also be crucial for the stock market:
- Nvidia (NVDA) reports earnings, the epicenter of the AI rally.
- Walmart and other retailers release earnings, a thermometer for real consumer behavior.

Two narratives undoubtedly colliding, the AI boom vs. consumer fatigue.

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