Compiled by: GaryMa Wu Blockchain about blockchain
Summary
Wu Blockchain this week's macro indicators and analysis: Last week, the lower-than-expected GDP in the first quarter of the United States and the higher-than-expected PCE showed slowing economic growth and inflationary pressure. The market is now adjusting its expectations, and there may be only one interest rate cut in 2024, which is very different from the seven expected at the beginning of the year. This week, the focus is on the US April labor market data and the Federal Reserve's May interest rate decision.
Last week review
●The initial value of the U.S. real GDP annualized rate in the first quarter was 1.6%. The initial value of the U.S. GDP seasonally adjusted quarter-on-quarter annualized rate in the first quarter was 1.6%, which was expected to be 2.5% and the previous value was 3.4%.
●The initial seasonally adjusted quarter-on-quarter annualized rate of the U.S. core PCE price index in the first quarter was 3.7%, in line with the forecast of 3.4% and the previous value of 2.0%.
●The Bank of Japan's monetary policy meeting decided to maintain the current monetary policy unchanged and keep the policy interest rate target between 0 and 0.1%.
●The U.S. core PCE price index was 2.8% year-on-year in March, higher than market expectations (2.7%).
●The final value of the University of Michigan Consumer Confidence Index in April was 77.2, expected to be 77.9, and the previous value was 77.9.
●The Bank of Canada released the minutes of its April monetary policy meeting: officials were more concerned about the upside risks of inflation.
This week's key events & indicators
May 01 ● U.S. ADP employment in April (10,000 people) (20:15)
●US April ISM Manufacturing PMI (22:00)
May 02 ● US Federal Reserve interest rate decision until May 1 (02:00)
●Fed Chairman Powell holds a monetary policy press conference (02:30)
May 03 ● U.S. unemployment rate in April (11:00) (20:30)
●US non-farm payrolls in April (10,000 people) (20:30)
Summary
Wu Blockchain this week's macro indicators and analysis: Last week, the lower-than-expected GDP in the first quarter of the United States and the higher-than-expected PCE showed slowing economic growth and inflationary pressure. The market is now adjusting its expectations, and there may be only one interest rate cut in 2024, which is very different from the seven expected at the beginning of the year. This week, the focus is on the US April labor market data and the Federal Reserve's May interest rate decision.
Last week review
●The initial value of the U.S. real GDP annualized rate in the first quarter was 1.6%. The initial value of the U.S. GDP seasonally adjusted quarter-on-quarter annualized rate in the first quarter was 1.6%, which was expected to be 2.5% and the previous value was 3.4%.
●The initial seasonally adjusted quarter-on-quarter annualized rate of the U.S. core PCE price index in the first quarter was 3.7%, in line with the forecast of 3.4% and the previous value of 2.0%.
●The Bank of Japan's monetary policy meeting decided to maintain the current monetary policy unchanged and keep the policy interest rate target between 0 and 0.1%.
●The U.S. core PCE price index was 2.8% year-on-year in March, higher than market expectations (2.7%).
●The final value of the University of Michigan Consumer Confidence Index in April was 77.2, expected to be 77.9, and the previous value was 77.9.
●The Bank of Canada released the minutes of its April monetary policy meeting: officials were more concerned about the upside risks of inflation.
This week's key events & indicators
May 01 ● U.S. ADP employment in April (10,000 people) (20:15)
●US April ISM Manufacturing PMI (22:00)
May 02 ● US Federal Reserve interest rate decision until May 1 (02:00)
●Fed Chairman Powell holds a monetary policy press conference (02:30)
May 03 ● U.S. unemployment rate in April (11:00) (20:30)
●US non-farm payrolls in April (10,000 people) (20:30)
