Active traders will get a first glimpse of how the US economy is performing in the January-March period next week as the US GDP report for Q1 2023 is due to be released on Thursday. EUR traders will focus on April’s CPI flash data, while central bank enthusiasts will be eager for interest rate decisions from the CBRT (Central Bank of Turkey) and BoJ (Bank of Japan). Finally, the US earnings season is picking up steam with the releases of 4 US mega-tech companies next week. Keep an eye out for USDJPY, EURTRY and Nasdaq in the new trading week!
USDJPY
The Bank of Japan will announce its next monetary policy decision on Friday morning. No change in interest rates is expected but the meeting will still be closely watched as it will be the first meeting under new BoJ Governor Ueda. A day earlier at 14:30 GMT traders are offered the release of the first quarter GDP flash result from the United States, which is expected to show a slowdown in growth from 4.4% in the fourth quarter of 2022 to 4.2% now % will show. With US PCE data for March due out at 14:30 GMT on Friday, USDJPY could see a volatile end to the week ahead.
EURTRY
EURTRY could see some movement in the second half of the week. The Central Bank of the Republic of Turkey will announce its rate decision on Thursday at 12:00 GMT. The one-week main repo rate is expected to remain unchanged at 8.5%. With little room for a surprise here, EURTRY could see further moves in reaction to the April CPI flash data from Europe. The German report will be published on Friday at 2:00 p.m. German time and should show a slight weakening of the overall index.
Nasdaq/US100
Earnings season is entering its pivotal week, at least when it comes to tech releases. Four US mega-tech companies will have reports for the first quarter of 2023 for investors next week: alphabet (Tuesday), Microsoft (Tuesday), Meta Platforms (Wednesday) and Amazon (Thursday). All 4 will release their results after Wall Street closes. The Q1 financial results of these 4 companies and the outlook for the coming quarters will have a major influence on the Nasdaq-100 (US100) in the coming week.
ACTION at the TESTSIEGER 2023:
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