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Calm After The Storm? 5 Things To Watch This Friday

Economy May 13, 2022 07:21
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By Laura Sanchez - Markets are trying to return to normal after the recent declines.

Corporate earnings season continues.

Oil prices - both WTI and Brent crude oil - are up this morning.

The main cryptocurrencies are trading higher.

Luis de Guindos, Vice-President of the European Central Bank (ECB), speaks.

Here are the five factors investors should consider when making their decisions today:

1. Markets: Calm after the storm?

This week's higher than expected US CPI data has brought back fears of more hawkish central bank policy and the possibility of economies facing a new recession.

2. Luis de Guindos (ECB) speaks

At 7:00 GMT, Luis de Guindos, vice-president of the European Central Bank (ECB), will make an appearance and investors will be watching to see if he says anything related to a possible interest rate hike.

Lagarde suggested this week that the hike could come after the end of the purchase program, which is set to expire at the beginning of July this year.

3. Crypto on the rise

The cryptocurrency sector seems to be bouncing back on Friday after this week's heavy losses. The collapse of Terra (LUNA) has also affected stablecoins such as Tether. Bitcoin is trading at $30,000 and Ethereum at $2,000.

4. Asia and the US stock market

Positive signs today on the main Asian indices. Nikkei is up 2.5%. Hong Kong's Hang Seng is up 1.9% and the Shanghai Composite is up 0.5%.

On Wall Street, the market ended yesterday mixed. The S&P 500 (-0.1%), Nasdaq (+0.06%) and Dow Jones (-0.3%) closed lower.

5. Macro data

Key macroeconomic releases in Europe include CPI in Spain and France, as well as Eurozone industrial production.

In the US, we will see the University of Michigan consumer confidence and several members of the FOMC will speak.

Follow the day's events on our economic calendar:

Calm After The Storm? 5 Things To Watch This Friday

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