As Monday rounds the corner, South Asian investors will be watching for signs of inflation as Singapore releases its March Consumer Price Index, followed by Australia’s first quarter CPI due out the next day.
Also on Tuesday, the Reserve Bank of India will meet to review the nation’s monetary policy amongst worries of an overheated economy. The RBI has raised its key lending rate five times in the past year in an effort to fight inflation.
In the U.S., analysts will watch to see if rising gasoline prices and worries over the U.S. sub prime market will take a bite out of April’s Consumer Confidence data. Existing Home Sales figures for March are also due out that day.
Continuing with U.S. data, the midweek brings a flurry of economic releases; Durable Goods, Fed Beige Book and New Home Sales will all be posted on Wednesday.
On Thursday, Nissan Motors is expected to reveal their new restructuring plan, as CEO Carlos Ghosn vows to get the automaker back on track.
And on Friday, the most important piece of data for the week is released as the U.S. announces its first-quarter gross domestic product. Analysts predict the data will reveal further slowing in economic activity down to 2.0%. Following the GDP release, University of Michigan’s Consumer Sentiment data will also be published, and this is expected to dip to an eight-month low of 85.3 in April.
Ending the week with a ka-ching, rather than a bang, international investors will keep watch on the biggest IPO of the year as China Citic Bank makes its the Hong Kong and Shanghai debut. Sources close to the company say the bank has already raised $5.4 billion in stock.
Standing out on the earnings calendar, market players will be watching to see if everyone really does love the iPod as Apple releases its Q1 2007 earnings results.
Other major company earnings to be released in the workweek ahead include: