We have an exciting week ahead in the financial markets, filled with key economic data and events that could trigger significant movements. From April 20 to April 24, 2026, investors will be eagerly watching a series of inflation reports, sales data, and PMI indicators that may provide important context regarding the state of the global economy.
The week will start with inflation data from Canada, which will be released on Monday at 14:30 (Warsaw time). The projected increase in the CPI m/m to 1.1% from the previous level of 0.5% suggests a pick-up in inflation in Canada, which could influence expectations regarding the monetary policy of the Bank of Canada. At the same time, the data on Trimmed CPI and Median CPI may confirm or negate this trend, indicating stabilization or further increases in price pressures. Markets will closely monitor these reports to assess whether the Bank of Canada will need to revise its strategy.
Tuesday will bring equally important data, starting with the New Zealand CPI q/q, which is projected at 0.8%. An increase in inflation in New Zealand may affect expectations regarding future interest rate moves by the Reserve Bank of New Zealand. Also significant will be the data from the United Kingdom regarding the change in the number of jobless claims, which may provide insight into the labor market conditions in that country. An increase in jobless claims, although lower than previously, still indicates some tensions in the labor market.
However, it is the data from the United States, which will be released at 14:30 (Warsaw time), that could generate the most excitement. The projected increase in Core Retail Sales and Retail Sales m/m to 1.3% and 1.4%, respectively, suggests a robust rebound in consumption in the U.S., which could have a positive impact on the stock market. In the context of recent inflation and production data that were below expectations, such an increase in retail sales may signal that the U.S. economy still has solid fundamentals. Additionally, on that day, a speech by Fed Chairman Kevin Warsh is scheduled, which may provide further clues regarding the future monetary policy of the Fed, especially in light of the upcoming FOMC meeting.
Wednesday will focus on the United Kingdom, where at 08:00 (Warsaw time) the y/y CPI index will be published. Expectations at 3.3% suggest rising inflation, which may put pressure on the Bank of England to continue raising interest rates. Given the recent better-than-expected GDP data, markets will closely watch these figures for signals regarding the future path of monetary policy in the UK.
Thursday will bring another batch of data from Europe, with a focus on Germany and the United Kingdom. German PMI indicators for manufacturing and services may provide clues regarding the state of the largest economy in the eurozone. Forecasts indicate some weakening, which may suggest difficulties in maintaining growth momentum. For the UK, PMI indicators may confirm or deny the inflation trends that were evident in earlier data.
The week will conclude on Friday with retail sales data from the United Kingdom. A positive forecast of 0.1% following a previous decline of 0.4% may suggest stabilization in consumption, which would be a positive signal for the British economy.
Against this backdrop, market sentiment, measured by the Fear & Greed Index, shows increasing optimism. The current level of 68/100 indicates a prevailing greed, suggesting that investors are willing to take on greater risks. Rising sentiment may support the stock markets; however, investors should exercise caution, as excessive confidence can lead to unforeseen corrections.
In summary, the upcoming week promises to be an exceptionally exciting period in the financial markets, full of potential surprises and investment opportunities. Investors will need to closely monitor incoming data and statements from key decision-makers that may provide new insights regarding future directions of monetary policy and the state of the global economy.