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Markets to Watch This Week

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3 markets to watch

Wall Street earnings season for Q1 2023 was launched this week with reports from big US banks. Earnings stream will get more diverse starting from next week, with some big-name tech companies scheduled to report, including Tesla. Apart from earnings, investors will also focus on flash PMIs from Europe as well as Q1 GDP data from China. Be sure to watch DE30, AUDJPY and US100 in the week ahead!

DE30

European stock markets indices may see some more volatility next Friday as flash PMI indices for April will be released. Expectations are for manufacturing and services indices to stay more or less unchanged compared to March readings – manufacturing to remain in recession territory and services to remain in expansion territory. As always, attention will be mostly on releases from France (8:15 am BST) and Germany (8:30 am BST). Solid reports could provide fuel for DE30 to move closer to 2021/22 highs in the 16,200 pts area.

AUDJPY

AUDJPY is one of the FX pairs that may be on the move next week, especially on Tuesday. Tuesday will see the release of RBA minutes (2:30 am BST) as well as monthly activity data from China for March and Q1 GDP data (3:00 am BST). RBA minutes will relate to the meeting at which the Australian central bank paused the rate hike cycle so the accompanying discussion may be interesting. When it comes to China, economists expect the Chinese economy to expand 2.2% QoQ after lack of growth in Q4 2022 (0.0% QoQ).

US100

Big US banks launched Wall Street earnings season for Q1 2023 this week. While reports from financial institutions will continue to be released next week as well, the earnings stream will get more diverse. This is a chance for Nasdaq-100 (US100) to see bigger moves as some big-names from the index will report financials – Netflix (Tuesday), IBM (Wednesday) and Tesla (Wednesday). US100 climbed back above 13,000 pts mark recently but struggles to extend the move higher, and earnings could provide fuel.

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