As April comes to a close, markets are bracing for a multitude of significant macro events. The monetary policy decisions of four major central banks - the Bank of Japan, the US Federal Reserve, the European Central Bank, and the Bank of England - will be closely watched. Additionally, a series of key US data releases, including first-quarter GDP and March PCE inflation, are scheduled, alongside earnings reports from major companies such as Visa, Mastercard, Robinhood, and prominent tech firms.
These announcements have the potential to either bolster or disrupt the current market sentiment. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum around the $78,000 mark.
However, the prospect of persistent inflation, despite the Fed's expected decision to maintain interest rates, could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the importance of tech giants' earnings reports, given their significant influence on equity markets, as well as the impact of US-Iran talks on oil and dollar movements, which will shape market sentiment in the coming week.