Mon: German GfK Consumer Confidence (May), US Dallas Fed Manufacturing Index (Apr) Tue: BoJ Policy Announcement (Apr), Spanish/Italian Retail Sales (Mar), Italian PPI (Mar), US ADP Weekly Employment Change, US House Price Index (Feb), US CB Consumer Confidence (Apr), US Richmond…
Mon: German GfK Consumer Confidence (May), US Dallas Fed Manufacturing Index (Apr) Tue: BoJ Policy Announcement (Apr), Spanish/Italian Retail Sales (Mar), Italian PPI (Mar), US ADP Weekly Employment Change, US House Price Index (Feb), US CB Consumer Confidence (Apr), US Richmond Fed Index (Apr), US Dallas Fed Index (Apr) Wed: Fed Policy Announcement (Apr), BoC Policy Announcement (Apr), BCB Policy Announcement (Apr), Australian Inflation (Mar), Spanish HICP (Apr), Swedish GDP (Q1), German State/Nationwide HICP (Apr), EZ Economic Sentiment (Apr), US Durable Goods (Mar), US Housing Starts (Feb/Mar), Wholesale Inventories (Mar) Thu: ECB Policy Announcement (Apr), BoE Policy Announcement & MPR (Apr), CBRT Minutes (Apr), Japanese Retail Sales (Mar), Australian Export/Import Prices (Mar), Chinese NBS & RatingDog PMI (Apr), French GDP (Q1), German Retail Sales (Mar), German Import Prices (Mar), French Inflation (Apr), Spanish GDP (Q1), German Jobs (Apr), EZ GDP (Q1), EZ Unemployment Rate (Mar), US PCE Price Index (Q1/Mar), US GDP Growth Rate (Q1), Jobless Claims (Apr/25), US Chicago PMI (Apr) Fri: Japanese Tokyo Inflation (Apr), Swiss Retail Sales (Mar), US ISM Manufacturing PMI (Apr) Week Ahead US-Iran Preview: The week ahead centres on four key watchpoints. First, the Strait of Hormuz “red line”: President Trump’s has warned the US Navy could actively engage IRGC vessels suspected of laying mines or interfering with traffic, shifting from shadowing to potential direct strikes, particularly after an IRGC-escorted Iranian ship defied the blockade.
Second, the nuclear deal standoff: Washington is pushing for a comprehensive deal, while Tehran insists the nuclear file is not part of the current talks, raising the risk that negotiations collapse if neither side compromises on uranium enrichment. Third, internal dynamics in Tehran: reports of leadership friction and IRGC influence over the negotiating team point to possible policy inconsistency or hardline escalation….