Previous Week’s Market Review & AnalysisTradingKey - The US macroeconomic landscape during the week of May 4-10, 2026, was characterized by elevated inflation concerns and ongoing geopolitical tension
The National Bureau of Statistics of China (NBS) will publish its data for April at 01.30 GMT. The Consumer Price Index (CPI) is expected to show an increase of 0.8% YoY in April, compared to 1.0% in March.
Iran has sent its response to the United States (US) proposal via Pakistan on Sunday, according to the Islamic Republic News Agency (IRNA).
Rabobank strategists assess how the US and Israel’s war against Iran could affect China. They note higher Oil and gas prices and global cost-push inflation, but argues China’s inflation is unlikely to force PBOC tightening.
ING’s Chief Economist for Greater China, Lynn Song, notes that Taiwan’s April trade data showed slower export and import growth versus expectations, with the trade surplus easing to USD14.35bn.
Standard Chartered’s Aldian Taloputra notes Indonesia’s GDP growth accelerated to 5.6% year-on-year in Q1 2026, driven by front-loaded fiscal stimulus, seasonal festival spending and limited pass-through from higher Oil prices.
MUFG economists Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee outline a base case where the reopening of the Strait of Hormuz by end‑May eases pressures on Asian currencies.
Commerzbank’s Thu Lan Nguyen argues that any relief from a potential reopening of the Strait of Hormuz for Aluminium will likely be short‑lived.
ING’s Peter Virovacz notes that Hungary’s inflation accelerated in April but remained a positive surprise versus expectations, with headline Consumer Price Index (CPI) at 2.1% year-on-year and 0.4% month-on-month.
DBS Group Research economist Radhika Rao assesses how a projected below normal monsoon in India, linked to a strong El Niño, could affect growth and inflation.
Wells Fargo Economics expects April U.S. CPI to firm, with headline inflation rising toward 3.8% year-over-year and core near 2.9%.
Nomura’s analysts see the Iran war keeping UK inflation above target until mid-2027 and weakening the 2026 growth outlook beyond Q1. UK GDP growth slowed to 0.1% q-o-q in both Q3 and Q4 2025.
In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said that the job market is "pretty stable."