This Week's Macro Outlook: Waller Takes Over the Federal Reserve, New Developments in US-Iran Relations
BlockBeats News, May 11 – This week, renewed uncertainty over the geopolitical situation arose due to a lack of agreement between the US and Iran, causing crude oil prices to rise slightly. In addition, macro events this week focus on the US April CPI data, specifically as follows:
Tuesday 15:15, FOMC permanent voting member and New York Fed President Williams participates in a panel discussion on monetary policy;
Tuesday 20:15, US ADP employment change for the week ending April 25;
Tuesday 20:30, US April CPI data;
Wednesday 04:30, US API crude oil inventories for the week ending May 8;
Wednesday 20:30, US April PPI year-on-year and month-on-month;
Friday 05:30, Federal Reserve Governor Barr delivers a speech;
Friday 21:15, US April industrial production month-on-month.
This week the Federal Reserve will see a major personnel change. Chairman-designate Kevin Walsh is expected to be confirmed by the Senate on Monday and will officially take over from Powell on May 15. On the US equities front, the three major US stock index futures edged down slightly on Monday. Although the first quarter earnings season is coming to an end, corporate reports will continue to be a key driver of share prices in the coming days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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