- Three upcoming trade opportunities based on key economic indicators including US inflation, EU inflation, and Japan GDP.
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US Inflation on Thursday, May 16:
Inflation in the US has persisted despite expectations of a slowdown.
March 2024 saw a consecutive increase in the annual inflation rate to 3.5%. Bank of America anticipates the upcoming data to reflect persistently high inflation levels, echoed by Morgan Stanley’s projection of a 3.6% year-on-year rate.
The IMF attributes much of this upward pressure to a robust labor market.
Trading Economics forecasts April’s inflation to remain steady at 3.5%.
EU Inflation Final on Friday, May 17:
European Central Bank (ECB) policymakers hold the belief that inflation will gradually return to the ECB’s 2% target by mid-next year, as indicated by recent inflation and growth data.
However, unexpected rises in Germany’s inflation, driven by surging food and energy prices, have tempered expectations of multiple rate cuts by the ECB.
Trading Economics anticipates the Euro Area’s Inflation Rate Year-on-Year Final to be 2.4%.
Japan GDP on Thursday, May 16:
The 2024 first quarter GDP report for Japan could be the most interesting trading opportunity this coming week. A forecasted contraction of 0.2% quarter-on-quarter is expected, primarily due to sluggish consumer spending and exports.
However, Trading Economics diverges slightly, forecasting growth at 0.1%.
Interestingly, Japan narrowly avoided a recession in Q4 2023, with GDP growing by 0.1% quarter-on-quarter, defying earlier readings of a decline.
