As financial markets get back to normal liquidity conditions following the extended Easter weekend, the focus will remain on US monetary policy as Fed chairman Powell makes a final appearance before the May announcement. Powell will appear at the spring meeting of the International Monetary Fund on Thursday. Dealers and traders alike will be trying to extract clues as to whether the Fed will opt for a 50-basis point hike next month. This view is slowly becoming consensus following last week’s 8.5% print for the year/year US consumer price index.
Elsewhere this week, final March eurozone inflation numbers are scheduled for release with an expected print of 7.5%. April flash PMIs are due out from Europe and the US too. The war in Ukraine will still play a major role in market moves this week just as Russia begins a new phase to take more territory in the east of the country.
Have a good week.
Written by Viv Savani. 6:26am, April 19th 2022
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