As the conflict enters its eighth week, the prospect of a US–Iran agreement—or incremental concessions to revive trade ahead of potential negotiations—will remain a key driver of the global economic outlook. Markets will also focus closely on US technology giants, which are due to update investors on AI-related capital expenditure guidance that has been a critical pillar of recent gains in global equities.
This will be the busiest week of the current earnings season, featuring results from Microsoft, Amazon, Apple, Alphabet, and Meta, alongside major international players in energy, pharmaceuticals, mining, and fast‑moving consumer goods. At the same time, the Federal Reserve will set interest rates in what is widely expected to be Jerome Powell’s final meeting as Chair. Policy decisions are also scheduled from the European Central Bank, the Bank of England, and the Bank of Japan.
On the data front, first‑quarter GDP figures will be released for both the United States and the Euro Area. In addition, key inflation reports are due from the Euro Area and Australia. In China, attention will center on the Standing Committee of the National People’s Congress, while markets await the release of both official and industry purchasing managers’ indices (PMIs).
