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This is what the financial markets will be living this week

This is what the financial markets will be living this week

created Marcin Kiepas20 May 2024

Speeches by representatives Fed, FOMC “minutes”, meeting RBNZ, publication of May PMI readings and quarterly results Nvidia – these will be the main events of the upcoming week on financial markets. The event itself is the new historical records of gold prices.

Gold at new highs

Financial markets are starting a new week, including: new records gold prices ($2450,06 per ounce), continued strong gains and new 11-year silver price records ($32,514 per ounce), over a one percent increase bitcoin rate, slight increases on stock exchanges in Asia and minor fluctuations in the main currency pairs.

XAUUSD Daily_fxclub_20052024

XAU / USD daily chart (gold). Source: Tickmill

Central banks, interest rates, inflation

This week, American monetary policy should be in the spotlight thanks to numerous speeches by Fed representatives, as well as minutes from the last meeting published on Wednesday. FOMC.

This will not be the only topic related to interest rates in the coming days, as central banks in New Zealand, Turkey and Hungary will decide on rates this week. Additionally, the calendar includes, among others: public speeches of bosses European Central Bank i Bank of England.

The April consumer inflation data published on Wednesday, May 22 may also cause a lot of emotions (CPI) and producer (PPI) in Great Britain, which will constitute an important reference point for market expectations regarding future decisions of the Bank of England. The same as Friday's retail sales data in the UK.

Global markets will also be influenced by the preliminary readings of the May PMI indices for the world's largest economies, published on Thursday. Locally, the Polish zloty and the Warsaw Stock Exchange may react to the numerous data published this week from the Polish economy (including industrial production, construction and assembly production, retail sales, PPI inflation).

For global stock markets, one of the most important events of the week will be the publication of Nvidia's financial results for the first quarter of the 2024/2025 financial year scheduled for Wednesday.

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About the Author
Marcin Kiepas
Tickmill UK analyst. Financial markets analyst with 20-year experience, publishing in Polish financial media. He specializes in the foreign exchange market, Polish stock market and macroeconomic data. In his analyzes he combines technical and fundamental analysis. Looking for medium-term trends, examining the impact of macroeconomic data, central banks and geopolitical events on the financial markets.