1️⃣ The main news over the weekend
- Biden seeks to increase its budget for fiscal year 2022 to 8.4%.
Biden will form a committee to study controversial topics such as the expanding Supreme Court.
- Powell: The US economy is at an inflection point.
- Saudi Aramco will sell a 49% stake in its oil pipeline, worth $ 12.4 billion.
2️⃣ Notable facts and data this week
More Fed officials, including Powell, are set to hit this week:
- At Monday morning, Powell attends a news program and will speak at the Economic Club of Washington on Wednesday.
From Wednesday to Friday morning, many officials, including Fed Vice Chairman Clarida, will deliver speeches.
Economic data and reports for the US market should be focused on:
At Tuesday, the US seasonally adjusted March CPI was announced and the market expected it to be at 0.5%. If the CPI figure exceeds expectations, it could once again make people worry about uncontrollable inflation.
- The rate of monthly US retail sales for March is announced on Thursday 5. Some analysts predict that March data will rise again.
On Tuesday and Wednesday, OPEC and IEA will publish two main oil reports.
As for other data, the Reserve Bank of New Zealand announced its rate decision on Wednesday. China's first-quarter GDP rate every year is announced at on Friday, and the market is expected to grow 18.20%.
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