As April comes to a close, the markets are bracing for a significant number of macroeconomic 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 - are expected to influence market trends.
Additionally, a series of US data releases, including first-quarter GDP and March PCE inflation, will be closely watched, along with the earnings reports of major companies such as Visa, Mastercard, Robinhood, and key players in the tech industry. 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 sustained inflation and the Fed's anticipated decision to maintain interest rates could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the significance of tech giants' earnings in determining the market's trajectory, given their considerable impact on equity markets.
Furthermore, the progress of US-Iran talks is likely to influence market sentiment through fluctuations in oil prices and the value of the dollar.