Investing.com - In the week ahead, investors will be focusing on the outcome of Wednesday’s Federal Reserve meeting for clues on the path of future interest rate increases.
Central banks in Japan, New Zealand, Brazil, Russia and Hungary will also be holding monetary policy meetings in the coming days.
The U.S., the U.K. and the euro zone are set to release initial estimates on first quarter gross domestic product.
Earnings will also continue to drive markets, with reports expected from many blue-ship stocks.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. Federal Reserve rate decision
The Federal Reserve is to hold its next monetary policy meeting on Wednesday, a day before the U.S. releases its preliminary estimate of first quarter growth.
There will be no press conference following the meeting and investors will be looking at the bank’s statement for any signs of whether a June interest rate hike is likely.
2. U.S. Q1 GDP data
The U.S. is to publish its initial estimate of first quarter gross domestic product on Thursday at 0830 ET.
The consensus expectation is for economic growth of 0.7% but the Atlanta Fed’s last estimate called for GDP growth of just 0.3%.
3. Bank of Japan rate review
The BoJ is to hold its next monetary policy review on Thursday.
Japan’s central bank is expected to wait until later in the year before easing monetary policy again, but it could ease earlier than anticipated, with downbeat economic reports and a severe earthquake threatening the view that inflation will pick up.
4. UK, euro zone GDP data
The U.K. is to release a first readout of first quarter GDP on Wednesday at 0930BST.
The U.K. economy is expected to have expanded by 0.4%QoQ, according to preliminary estimates, slowing from 0.6% in the prior quarter.
The euro zone is to report on first quarter growth on Friday at 1200CET, with the bloc’s economy expected to have expanded by 0.4% QoQ and 1.4% YoY.
5. Earnings
A slew of companies are to report earnings next week, with Apple (NASDAQ:AAPL) expected to report Tuesday at 1700 ET.
Also reporting next week are Facebook (NASDAQ:FB), 3M (NYSE:MMM), Mastercard (NYSE:MA), United Technologies (NYSE:UTX), UPS (NYSE:UPS) and AT&T (NYSE:T).
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/