The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Asia equities decline from decade maximum as China reports rare data miss
On Thursday, Asian equities tumbled from 10-year maximums, reacting to a burst of Chinese data that was mostly weaker than financial markets actually expected. Meanwhile, the greenback held steady ahead of American inflation data due later in the day.
China's fixed-asset investment, retail sales and factory output all surged less than anticipated, thus backing views that the world's number two economy is gradually starting to lose steam in the face of soaring borrowing costs.
It took some of the shine off China's suddenly sturdy surge in the first half of 2017 that has helped to drive stronger global demand, especially for commodities. However, experts don’t see a risk of a steep slowdown in the economic momentum.
MSCI's index of Asia-Pacific stocks slumped 0.1% having grown to its highest value since 2007 the day before. Additionally, China stocks CSI300 went down into the red following the data, giving up moderate early profits.
Japan's Nikkei N225 sank 0.2%.
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The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.