As April comes to a close, the market is bracing for a busy week ahead, with multiple macro events set to unfold. 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 slew of key US data releases, including first-quarter GDP and March PCE inflation, are scheduled, along with earnings reports from major companies such as Visa, Mastercard, Robinhood, and several prominent tech firms, which could significantly influence the current market tone. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with significant momentum, but the persistent inflation and the Fed's expected decision to keep rates unchanged could lead to a short-term pullback to the $72,000-$74,000 range.
Levin also emphasized the importance of tech giants' earnings and the US-Iran talks in shaping market sentiment, particularly through oil and dollar movements.