According to Wu, this week's focus is on the US April CPI inflation data, which will affect the Fed's subsequent monetary policy path and the market's expectations of that path. At the same time, we also need to pay attention to the relevant speeches of several Fed officials.
Last week, Barkin, a voting member of the 2024 FOMC and President of the Richmond Fed, delivered a speech on the economic outlook. The Reserve Bank of Australia decided to keep the benchmark interest rate unchanged. The summary of the Bank of Japan's April meeting showed that most members turned hawkish. The Bank of England kept its benchmark interest rate unchanged for the sixth consecutive time. The European Central Bank was ready to cut interest rates in June. The U.S. one-year inflation rate forecast for May rose to 3.5%.
Key events this week include the US PPI annual rate in April, conference speeches by Federal Reserve Chairman Powell and ECB board member Knott, US CPI in April, the number of initial jobless claims in the United States for the week ending May 11, and speeches on the economic outlook by Federal Reserve Vice Chairman Jefferson and 2024 FOMC voting members, Cleveland Fed President Mester, and Atlanta Fed President Bostic.
