S&P 500, NASDAQ, and FAANG earnings Reports

Should we wait for new records?

Besides, that FED and BOJ policy meetings and press conferences will be at the center of attention. On the other hand, the following week will also include critical economic data. Let's take a look at the most important events of the week.

Earning Reports and Big Techs.

After last week's Netflix numbers, Facebook, Amazon, Apple, and Google will publish their earnings report this week to complete the FAANG reports. However, the week will start with Tesla's earnings report on Monday to have another market giant in the spotlight.

With the reports ahead, we are waiting for new records high in SP500. Technically 4,218 is the 3rd resistance level and the next target of the Index.

Bank of Japan Policy meeting.

Tuesday Bank of Japan will hold its Interest Rate Decision, Statement, and Conference call. In the previous meeting, the BoJ extended its target band under the yield curve control policy and removed the exact target for ETF purchasing, helping the central bank's approach decrease the stimulus. We expect the weaker Yen against its crosses as the growth of stock markets will reduce the yen's safe-haven.

Federal Reserve meeting on Wednesday

On Wednesday, Federal Reserve Interest Rate Decision and Statement with its Conference call will get the attention. We are not expecting any changes to interest rates, keeping it in a range between 0.0%-0.25percent. Still, the press conference is supposed to provide some tradeable comments after its two-day policy meeting. With no change in the FED policy, the USD still under pressure, and USD Index must-see lower levels. 91.20 is the pivot point for the USD index, and lower levels must be under 90.50. On the flip side, the uptrend will start above the 92.00 marks in case of a return.

Economic Calendar.

Economic Calendar - Monday

Monday: The U.S. durable goods orders and the German business expectation are due to release; both expect to increase and confirm the economic growth. In line with other news, these reports must reduce the Dollar demand and help the EURUSD uptrend. Above this level, pairing must see the 1.2134. Downtrend of EURUSD in return will start under 1.1900, and any number above this level still will support the trend.

Tuesday: The U.S. house price index and Consumer Confidence, same as goods orders, afters better vaccination progress and reopenings, both are expected to raise and show a positive market reaction.

Economic Calendar - Wednesday

Wednesday: While Wednesday everything is about the FED meeting and meaningful reports, Australian inflation, Canadian Retail Sales, and EIA numbers will also matter. EIA report expecting to confirms another growth of Oil inventories, Despite the increase in inventories, for USOil, crossing above 63, 30. will open the doors for higher prices above 67 dollars.

Economic Calendar – Thursday, U.S. GDP

Thursday: As every Thursday, the jobless claim number is the most economic data of today. We are expecting another decrease to 560k for the claims in the week ending on 23 April. Also, the Australian Trade balance and European Harmonized Index of Consumer Prices are due to realize today. However, US GDP is the most significant number on Thursday, with a growth rate of 6.5% expected from a 4.3% last number.

Economic Calendar – Friday, E.U. GDP

Friday: Europeans will report their first-quarter GDP, day after Americans. It is expected to miss the expectations as the virus develops, in the Eurozone and caused new wave of lockdowns.