Any sign of a breakthrough in the prolonged standoff between Iran and the United States will be the key driver for global markets next week, as persistently high energy prices keep central banks on alert over inflation risks. In the US, the upcoming releases of consumer and producer price data— the final inflation readings before this month’s Federal Reserve decision—will be in focus, alongside figures for existing home sales and the trade balance.
In China, markets will be watching for new trade data and inflation reports as well. Meanwhile, the European Central Bank and the Bank of Canada are set to announce their latest monetary policy decisions. The UK will publish April GDP and, together with Germany, will release trade balance and industrial production numbers.
Elsewhere, Australia is scheduled to report key leading indicators for industry, while Brazil, Mexico, and Russia are expected to release their consumer price indices. On the corporate side, SpaceX is preparing for what could become the largest initial public offering on record. In the energy sector, OPEC+ will vote on the cartel’s output quotas in its first meeting since the departure of the UAE.
