A series of indicators and report earnings due to be released, are expected to shake up the crypto market this week. The most prominent indicators can be mentioned are US GDP, Euro area Q1 GDP, Bank of Japan’s interest rate decision and big tech companies Q1 report earnings.
Gross domestic product (GDP), employment cost index (ECI), and personal consumption expenditures (PCE) of the first quarter in the US are indicators of interest, especially during the Fed blackout period ahead of the Federal Open Market Committee meeting next week.
In Europe, GDP and CPI of Germany and France as well as Eurozone GDP will also be released this week. GDP growth in this area fell from 0.1% to 0% in the Q4 last year. European economies have fallen into stagnation since the war in Ukraine.
Meanwhile in Asia, Bank of Japan’s interest rates and many important economic indicators of this country will be released, including CPI, labor market, retail sales and industrial production indicators of Tokyo. The BoJ’s decision will come under scrutiny as it marks Kazuo Ueda’s first meeting as central bank governor.
This week, 178 S&P companies including big tech and many other large tech companies, will report their Q1 earnings. These tech companies account for about 40% of the index earnings.
Big tech includes 4 giants: Microsoft, Alphabet, Meta and Apple. Besides, there are many other notable names in the tech space like Texas Instruments, SK Hynix, Intel or Sony. Many of them drove the S&P 500’s gains in the first quarter of this year. Investors can rely on these indicators to determine the economic situation and the global recession.