Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy.
AI darling Nvidia reports results, London has its sights on a revival in stock listings, while New Zealand's central bank is stuck in rut between lacklustre growth and sticky inflation.
Upcoming May business activity numbers from big economies should reinforce a brighter global economic outlook.
A slow euro area recovery appears to be underway after six straight quarters of stagnant or negative growth, U.S. inflation just resumed its downward trend and China grew faster than expected in Q1. So, global PMIs should stay on the right side of the 50 divider between expansion and contraction.
Yet steep U.S. tariff increases on Chinese imports from electric vehicle batteries to computer chips highlight a fragile outlook for global trade and growth. China vows retaliation.
Manufacturers in Germany, Europe's biggest economy, are already experiencing shifts in world trade and geopolitics. Heightened trade tensions - with a U.S. election looming - could hurt them further, upend China's recovery and reignite U.S. inflation.
Global PMIs are pointing up for now. But that could easily change.
.jpeg)
 (16).jpeg)
