This Week's Macro Outlook: US-Iran Talks Enter New Phase, Economic Data to Potentially Reinforce Dovish Stance

BlockBeats News, May 4th. The weekend saw a positive de-escalation in the US-Iran talks, while the US, Israel, and Iran are still preparing for "war." With Trump launching "Operation Liberty," the power struggle over the control of the Strait of Hormuz will see a significant turning point this week. Therefore, with both "peace talks" and "war" hanging in the balance, the market's nerves will remain highly taut this week.

On a macro level, traders next week will focus on US employment data, especially Friday's non-farm payroll report. Specifically:

Wednesday 20:15, US April ADP Employment Numbers;

Thursday 19:30, US April Challenger Job Cuts;

Thursday 23:00, US April New York Fed 1-Year Inflation Expectations;

Friday 20:30, US April Unemployment Rate, Non-Farm Payrolls, Average Hourly Earnings YoY/MoM;

Friday 22:00, US May 1-Year Inflation Rate Expectations Preliminary, US May University of Michigan Consumer Sentiment Index Preliminary, US March Wholesale Sales MoM.

Forecasters expect that the April non-farm payroll report to be released next Friday will show a steady addition of 60,000 jobs, with wage growth accelerating, a stable unemployment rate, and an increase in labor force participation. According to Bloomberg's survey of economists, private payrolls growth may be even stronger.