Next week's focus in the United States will revolve around the health of the consumer, as April's retail sales data will be released on Wednesday. This information will offer a glimpse into the strength of the economy, while major retailers Home Depot and Walmart are set to report their quarterly results.
Market watchers will also have their eyes on a fresh wave of US inflation data starting from Tuesday. The release of the April producer price index (PPI) will kick off this series, offering crucial insights into pricing pressures at the wholesale level. Later in the week, on Friday, the focus will shift to the consumer price index (CPI) and its potential impact on monetary policy decisions.
Beyond the United States, economic indicators from other major economies will also shape market sentiment. On Wednesday, the Eurozone will release its Q1 gross domestic product (GDP), while, Japan will unveil its Q1 GDP data. Additionally, China's April retail sales and industrial production figures will be closely monitored for signs of recovery and growth in the world's second-largest economy.
