Macro outlook next week: CPI will make the Fed "more difficult", and the US index may fall into a plunge

PANews reported on April 6 that market sentiment deteriorated sharply after Trump announced its tariff proposal, which exacerbated concerns about global growth expectations and caused a plunge in U.S. stock markets. On Friday, the market value of the S&P 500 evaporated by $1.5 trillion again, with cumulative losses of $3.5 trillion in two trading days. Large tech stocks fell, and the Nasdaq closed down more than 20% from its record high in December last year, entering a technical bear market. Looking ahead to next week, the tariff outlook is far unclear. Investors still need to focus on possible agreements between the United States and other countries, which will help improve market sentiment. If no agreement is reached and it triggers tariff responses from more countries, the market may have another painful week. Here are the key points that the market will focus on in the new week:

On Wednesday at 02:00, San Francisco Fed Chairman Daly attended a dialogue event called "Feder Economic Outlook and Work"

Richmond Fed Chairman Barkin delivered a speech on Wednesday at 23:00

Dallas Fed Chairman Logan delivered a welcome speech at an event at 21:30 on Wednesday

Thursday at 02:00, the Federal Reserve released minutes of March monetary policy meeting

Thursday at 20:30, US March CPI data, number of initial unemployment claims in the week from the United States to April 5

Chicago Fed Chairman Goulsby speaks at the New York Economic Club at 0:00 on Friday

Philadelphia Fed Chairman Huck speaks on FinTech at 00:30 on Friday

Friday at 20:30, US March PPI data

St. Louis Fed Chairman Mousalem speaks on U.S. economic and monetary policy at 22:00 on Friday

Friday at 22:00, the initial value of the expected inflation rate in the United States in April, the initial value of the University of Michigan Consumer Confidence Index in April

New York Fed Chairman Williams speaks on economic outlook and monetary policy at 23:00 on Friday

Given all the uncertainties right now, U.S. dollar traders will focus on U.S. March CPI data scheduled to be released next Thursday. Tariffs not only pose a threat to economic activities, but also pose an upward risk to inflation. If CPI data accelerates further, this may prompt traders to reduce some of their rate cut bets. In addition to CPI data, PPI data and inflation expectations may also become key market drivers.