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Look ahead: NVIDIA; RBNZ interest rate decision; UK CPI; FOMC minutes

UK CPI in focus as the Bank of England is expected to cut rates ahead of the Fed, which also is due to release its latest minutes. Marks & Spencer reports full-year results.

Reserve Bank of New Zealand expected to keep rates on hold

In this “Look ahead” to 22 May, financial markets will focus on several crucial data points. New Zealand’s interest rate decision is expected to maintain the official cash rate at 5.5%, with a first easing anticipated in the fourth quarter. Key insights from Australia highlight a wait-and-see approach to inflation and consumer spending. In the UK, CPI data forecasts show a decrease, influencing trading in the forex market, notably GBP/USD. The US will reveal existing home sales, EIA crude oil inventories, and FOMC minutes, which could provide hints about future Fed rate cuts.

Earnings reports

Meanwhile, corporate earnings are due from major firms like NVIDIA, which has seen a significant 700% stock increase since October 2022, and others like Marks & Spencer and British Land in the UK.

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