Weekly Macro Outlook: Momentum Meets Uncertainty

This weekly macro outlook highlights the key economic events, central bank meetings, and macro themes shaping global markets for the week of May 4, 2026.

Key Focus This Week:

  • Central bank meetings: RBA
  • Major data: US labor market update Apr, ISM services PMI Apr, Final S&P global PMIs
  • Key themes: US-Iran geopolitical headline risks
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Mars Market Update: May 4th, 2026 – Sell in May?

Last week, equity markets extended higher as expected and are fast approaching measured targets. While there are enough waves in place to complete wave 5 to new ATH's, the structure would still look best with a final extension towards the target zone. While this rally can continue to extend higher, we are now alert to […]