Trading Week Ahead: Flash PMIs in Focus
Middle East peace hopes have collapsed after US forces seized an Iranian tanker. In retaliation, Tehran claims to have closed the Strait of Hormuz once again, triggering extreme volatility across global energy markets. With risk appetite fading, the spotlight shifts to Q1 earnings from heavyweights like Cleveland-Cliffs and the next leg of the AI race as SK Hynix advances memory production for Nvidia.
Brace for this week's three key macro events:
👉 US Retail Sales
Forecast to accelerate sharply to 1.4% (prev. 0.6%), this is a critical read on consumer spending strength. A soft print falling short of these high expectations will drag the dollar and fuel aggressive rate cut bets.
👉 EUR Flash PMIs
The primary Eurozone growth gauge is driving the European Central Bank's next policy move. Markets are bracing for a slip into contraction for the services sector (forecast 49.8 vs. prev. 50.2), alongside a slowdown in manufacturing (forecast 50.7 vs. prev. 51.5).
👉 US Flash PMIs
The standout macro event of the week. Traders will aggressively parse the data to see if the crucial services sector can claw its way back into expansion territory (forecast 50.1 vs. prev. 49.8). A weak print missing this threshold is virtually guaranteed to spike market volatility.
Date
Time
Instrument
Event
Monday, Apr. 20
CPI
Tuesday, Apr. 21
CP
Claimant Count Change
Retail Sales
Wednesday, Apr. 22
CPI
Thursday, Apr. 23
Eurozone Flash PMI
Flash PMI
Flash PMI
Friday, Apr. 24
Retail Sales
*All times in the table are in CEST
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