TC Economic Insight - The Week Ahead (Apr 29 - May 3)


Kim Ming Lam


April 29, 2024



Min Read

TC Economic Insight - The Week Ahead (Apr 29 - May 3)

Using Trading Central's "Economic Insight" investors can check out up-coming major economic data.

We are looking into the trading week of April 29 - May 3:

We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:

We can select which economies to focus on:

U.S. inflation rates remain firm (“sticky”) as the labor market stays tight, leading investors not to expect the Federal Reserve to cut interest rates very soon.

As a result, the stock market keeps showing a lack of upward momentum.

The Federal Reserve will have another monetary-policy meeting in the coming week. According to Trading Central's "Economic Insight", the central bank will announce on Wednesday (May 1) its decision on keeping key interest rates unchanged. Investors should be watching closely if Fed Chair Jerome Powell would give any clue on interest- rate cuts. 

In the past 8 U.S. Federal Reserve Interest Rates Decisions, EUR/USD rose in 63% of times (5 out of 8 events) within one hour from the report’s release, marking a trading range of 52.12 pips on average.

Key Economic Data Forecasts:

Monday (April 29)

JP Market is Closed for Showa Day holiday

DE Inflation Rate (APR) to rebound to 2.3% YoY

US Dallas Fed Manufacturing Index (APR) may improve to -11

Tuesday (April 30)

JP Unemployment Rate (MAR) to drop to 2.4%

JP Retail Sales (MAR) +0.3% MoM

JP Industrial Production (MAR) +2.8% MoM

AU Retail Sales (MAR) +0.3% MoM

CN Official Manufacturing PMI (APR) to dip to 50.7

CN Official Non Manufacturing PMI (APR) to dip to 52.8

CN Caixin Manufacturing PMI (APR) to dip to 51.0

FR GDP Growth (1Q) to rebound to 1.2% YoY 

FR Inflation Rate (APR) to ease to 2.2% YoY

DE Retail Sales (MAR) +0.7%MoM 

DE Unemployment Rate (APR) to hold at 5.9%

DE GDP Growth (1Q) to rise to 0.1% YoY

EA Inflation Rate (APR) to hold at 2.4% YoY 

EA GDP Growth (1Q) to hold at 0.1% YoY

CA GDP Growth (FEB) may ease to 0.4% MoM

US Chicago PMI (APR) may rise to 44

US Conference Board Consumer Confidence Index (APR) to ease to 104

Wednesday (May 1)

CN Market Closed for Labor Day holiday

HK Market Closed for Labor Day holiday

NZ Unemployment Rate (1Q) to climb to 4.3%

DE Market Closed for Labor Day holiday

FR Market Closed for Labor Day holiday 

US ADP Employment Change (APR) +162,000

US ISM Manufacturing PMI (APR) may dip to 49.9

US Federal Reserve expected to Key Interest Rate unchanged

Thursday (May 2)

CN Market Closed for Labor Day holiday

AU Trade Surplus (MAR) may increase to A$7.5B

US Initial Jobless Claims expected to be stable at 207,000

US Factory Order (MAR) +1.8% MoM

CA Trade Surplus (MAR) to be stable at C$1.3 billion

Friday (May 3)

JP Market Closed for Constitution Memorial Day holiday

CN Market Closed for Labor Day holiday

FR Industrial Production (MAR) +0.7% MoM

EA Unemployment Rate (MAR) to stay at 6.5%

US Non Farm Payrolls Addition (APR) expected to slow to 190,000

US Unemployment Rate (APR) to stay at 3.8%

US ISM Services PMI (APR) may tick up to 51.8

Happy Trading!

Source: Trading Central Economic Insight

Kim Ming Lam

Head of APAC Research
Ming graduated from Hong Kong University with a Bachelor's degree in mechanical engineering. He has been working in the financial services sector for over 10 years. He is currently tasked with providing clients with technical analysis views on forex and Asian stock indexes.
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