The most important events and economic data expected this week.

This week will be relatively quiet in the US, with only the Michigan Consumer Confidence Index and Fed officials’ speeches worthy of attention.

Content

the details

gold

West Texas

the details

Globally, central banks in the United Kingdom and Australia are scheduled to announce their interest rate decisions.
In addition, China will focus on Caixin services and composite PMIs,
along with foreign trade, inflation rates and new loan data.
In Europe, attention will turn to Germany for updates on factory orders,
industrial production and trade balance figures.
Inflation data will be closely watched in China,
while GDP growth rates in the UK will be scrutinised.

gold

Gold stabilizes near $2,300.

Gold prices settled around $2,300 an ounce on Friday, as investors took advantage of higher valuations and booked profits despite weaker-than-expected US labor data.
While the employment numbers have fueled belief that the Fed will begin interest rate cuts this year,
which could boost zero-yielding bullion, this has prompted investors to opt for riskier assets instead. Over the course of the week, gold fell by more than 1.5%,
as optimism regarding the ceasefire agreement between the Zionist entity and Hamas,
facilitated by Egypt, reduced the attractiveness of gold as a safe haven.

West Texas

West Texas Intermediate crude oil prices are falling towards their lowest levels in more than 7 weeks.

Hedge funds’ bets on a decline in US crude prices have increased, amid their decline towards their lowest levels in more than seven weeks.

Net long positions by money managers in WTI fell by 6,957 contracts to 172,689 contracts in the week ending April 30, marking declines for the third straight week, according to the US Commodity Futures Trading Commission. Hedge funds raised their bets on selling crude oil by 9,705 contracts to 78,141 contracts, the highest level since last January.

The price of crude oil fell to its lowest level since mid-March this week, with US inventories rising more than expected, amid signs of progress in ceasefire talks between Israel and Hamas.

At the same time, stabilizing inflation in the United States has led the Federal Reserve to keep interest rates high, and the resilience of the US economy has led to a decline in demand for gasoline and diesel.

The most important events and economic data expected this week

The most important events and economic data expected this week.

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