HomeEconomyTake Five: More Drama on the Horizon Economy Take Five: More Drama on the Horizon By farahat May 21, 2023 0 74 views Share FacebookTwitterPinterestWhatsApp SPGI +0.% Add to/Remove from Watchlist Add to watch list Location successfully added to: Please name your portfolio type: purchase Sell date: quantity: price Point Value: Leverage: 1:1 1: 1: 1: 1:10 1 : 1: 11 1: 25 1: 45 Committee: 8119 1000 CREATE NEW WATCHLIST CREATE 408238119 600 Create a new holder There are combinations added to create 400 + add another position to close 400 Stoke +0.% 66 Add to/Remove from Watchlist Add to Watchlist Add location Location successfully added to: Please name your Shareholding folder type: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: LONDON (Reuters) – Markets will have no shortage of events, data and drama in the coming days. Debate over the debt ceiling in Washington continues, Greek voters head to the polls, and data from the US, China and Europe could show how quickly inflation and growth are slowing. Here’s what Tokyo’s Kevin Buckland, New York’s Lewis Krauskopf, London’s Naomi Rovnick and Amsterdam’s Yoruk Bahceli have to say about the market for the week ahead. 1/ American Watch Key US inflation data will be Allowing investors to gauge whether the Fed will be able to pause its rate-hike cycle, as many on Wall Street have hoped. The personal consumption expenditures (PCE) price index tracked by the Federal Reserve is due Friday for April. The index rose 0.1% in March. It was the smallest increase since July and raised hopes of a peak in rates as the annual rate of consumer prices slowed below 5% in April. minutes from the Fed’s latest meeting on Wednesday, could provide more clues as to whether a rate pause is imminent. Markets also loom on the June 1st deadline unless the nation’s debt ceiling is lifted, the government may default on some debt. There are some positive signs of a deal, but any headlines that suggest a deal is still out of reach could weigh on markets. 2/ Stuttering Confidence in China is growing shift, as a slump in consumers hampers a post-pandemic recovery that should have offset a downturn in the U.S. and Europe. The yuan is at a 5-1/2 month low and Citi’s China Economic Surprise Index is at its lowest since January. Expectations for stimulus (monetary, fiscal or both) are rising. That view will be tested on Monday, when the People’s Bank of China sets its prime lending rate. Tokyo consumer price data on Friday, ahead of national figures weeks earlier, was in focus for Bank of Japan watchers. Traders all but gave up on the Bank of Japan’s June hawkish shift in June, which could have given markets a nasty surprise on very strong data. The Reserve Bank of New Zealand met on Wednesday, with expectations for a half-basis-point rate hike building up after the budget was more expansionary than expected. 3/Teflon PMI For stocks, good data can be bad news. S&P Global (NYSE: 500SPGI ) The U.S. Composite Purchasing Managers Index, seen as a real-time indicator of business conditions, has risen for five months. May if the improvement continues in the next survey and the global PMI, which could disappoint investors chasing higher stock valuations in anticipation of a recession. Big tech stocks that dominate U.S. indices do well in times of economic weakness as it encourages bets the Fed will cut rates and boosts early-stage companies risk appetite – integrating innovation into their business plans. The situation in Europe is mixed. A better-than-expected PMI could benefit regional stocks. but Euro Stoke 11 index, up % Since the beginning of this year, fears of a U.S. economic recession have driven investors to diversify their investments in Europe, and also support this trend. 4/ Fade Star Sterling has been the best-performing major currency against the dollar so far this year, partly due to expectations that the Bank of England will raise interest rates further from the current 4.5%. However, that argument could lose momentum if Wednesday’s April inflation data shows that price increases are slowing. UK inflation is .1% in March, the highest in Western Europe. Since then, however, job market inflation has shown some signs of cooling, with the UK unemployment rate inching up to 3.9%. While wage growth held steady at an annualized 5.8% in March, the number of people changing jobs fell further. Some economists believe wage growth will weaken in the future, suggesting that UK interest rates may have peaked – and the strength of the pound. 5/ vote After Turkey, Greece voted for Sunday. Prime Minister Kyriakos Mitsotakis’ New Democratic Party is ahead in opinion polls, but given the new voting system, the election may not yield a clear winner. While a coalition government or a second vote in July is possible, Mitsotakis hopes to win a second term to Continue to reform and further promote economic growth. Markets are upbeat; Greek stocks and bonds are still outperforming. ] The final step toward investment-grade credit, more than a decade after it was downgraded to junk status. Former Prime Minister Alexis Tsipras’ Syriza, which clashed with Greece’s creditors and later eased, in public opinion ranked second in the survey. Syriza has promised massive spending, including higher wages, reversing labor market reforms and nationalizing utilities and a major bank – policies that will rattle market nerves. 52 Share FacebookTwitterPinterestWhatsApp Previous articleCannes Film Festival: Todd Haynes' 'May and December' receives rave reviewsNext articleKonosuba: An explosion in this wonderful world! ‒ Episode 7 farahat RELATED ARTICLES Economy Bosch expects to cut 1,500 jobs by 2025 at two German sites December 10, 2023 Economy Fed expected to hold rates steady amid economic slowdown signs December 10, 2023 Economy China proposes trading cost cuts for mutual funds, to regulate commissions December 10, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. 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