OANDA Senior Market Analyst Kelvin Wong joins Johnny Hart to discuss the week's key economic data and events. First, Australia's monthly CPI (March), released on Wednesday (24 April), is expected to rise at an annualized pace of 3.4%, similar to that released in February; This is the lowest value since November 2021. The RBA's hawkish tone has been subdued.
Second, the Bank of Japan's monetary policy meeting and the release of the latest outlook report on the Japanese economy are scheduled for Friday (April 26), with the Bank of Japan revising its expected core-core CPI rate from 1.9% to 2%. There is a high possibility that it will. Sales decreased in 2024 and 2025 due to a better-than-expected outcome in wage negotiations between labor unions and employers. If core-core CPI is expected to rise above 2%, this could increase the likelihood that the next rate hike will occur much earlier in July.
Third, PCE data, the US Fed's preferred inflation measure, will be released on Friday, and the consensus is “optimistic” that core PCE for March will be 2.6% y/y, down from 2.8% y/y in February. I'm predicting 'to'.
Finally, the US stock market has a big earnings announcement week, when the four companies in the “Magnificent 7” group of mega-cap stocks announce their profit figures. Tesla (Tuesday, April 23rd), Meta (Wednesday, April 24th), Microsoft, Alphabet (Thursday, April 25th).
The content is for general information purposes only. This is not investment advice or a solution to buying or selling securities. Opinions are those of the author. He is not necessarily OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute content from MarketPulse, an award-winning foreign exchange, commodity, and global index analysis and news site service produced by OANDA Business Information & Services, Inc., please visit our RSS feed or Please contact us at the following address: info@marketpulse.com. For more information on global market trends, please visit https://www.marketpulse.com/. © 2023 OANDA Business Information & Services Inc.
