The US central bank will announce its interest rate decision this week, and it is highly expected that things will remain the same.
Optimism picked up a little last week as stock and crypto markets made gains as tariff concerns eased slightly.
However, the unexpected Q1 GDP contraction shook market sentiment. This appears to be the result of companies front-loading orders ahead of anticipated tariffs.
It was also reported that President Trump has no plans to speak with China’s President Xi this week. In a potential escalation of trade tensions, Trump said that Beijing is “ripping us off” and Chinese and US officials are talking about “different things.”
Economic Events May 5 to 9
Consumer sentiment also fell in April for the fourth month in a row. It is now back to levels not seen since the pandemic era, as households brace for further price hikes.
On Monday, April’s ISM Services PMI (purchasing manager’s index) report will be released, reflecting business conditions in t
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