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Top 5 Market Events to Watch This Week

This week, keep an eye on the top 5 market events, including the Federal Reserve decision, U.S. jobs report, Apple earnings, ECB rate hike, and RBA interest rate decision.

Federal Reserve
Federal Reserve

Federal Reserve Decision: Quarter Point Rate Hike Expected

The Federal Reserve is anticipated to announce another quarter-point rate hike on Wednesday, amidst persistent inflation and growing concerns over the economic outlook. This would be the tenth consecutive rate hike, bringing the benchmark to its highest level since 2007. Investors are closely watching for signs of a pause in June, as tighter credit conditions could act as an additional rate hike.

US Jobs Report: Moderate Growth Continues

The April employment report, scheduled for release on Friday, is expected to show a third consecutive month of moderating jobs growth with the economy adding 180,000 jobs. The unemployment rate is predicted to rise to 3.6% while average hourly earnings remain steady. This report will be closely watched for indications of labor market demand.

Apple Earnings: Impact on Global Consumer Demand

Apple is set to report earnings on Thursday, with analysts forecasting a decline in fiscal second-quarter revenue to $93 billion and earnings per share of $1.43. As a bellwether for global consumer demand, Apple's results could significantly impact markets and several industries.

ECB Rate Hike: Inflation and Bank Lending Data Crucial

The European Central Bank (ECB) is expected to hike rates on Thursday, with options of a 25-basis point or a 50-basis point hike on the table. Eurozone inflation and bank lending data, set for release on Tuesday, will play a crucial role in determining the size of the rate hike.

RBA Decision: Interest Rates Likely to Remain on Hold

The Reserve Bank of Australia (RBA) is anticipated to keep interest rates on hold at its meeting on Tuesday, following recent consumer price data suggesting that inflation peaked at the end of last year. The RBA had paused its year-long rate hike cycle in April, warning that persistent inflation could lead to more rate hikes.