Next week, the markets will be tense due to two major factors - the geopolitical situation in the Middle East and the Federal Reserve's decisions. It's interesting to watch how these events will influence the macroeconomy.

Tensions between the US and Iran remain high. Although the escalation has slightly decreased, American military forces continue searching for the pilot of the shot-down F-15E, and Iran is not reducing its aggression toward Gulf Arab states and Israel. There is a possibility of deploying additional US ground troops, which could increase market volatility.

There will be plenty of economic data for analysis. On Monday, the ISM Services Index for March will be released - this indicator will provide a comprehensive picture of the US service sector's condition. On Wednesday, we expect the Producer Price Index and retail sales data for the Eurozone. Of particular interest are the US CPI figures on Friday - an expected increase from 2.4% to 3.1% year-over-year, reflecting the impact of recent conflicts on prices.

But the main event is the Federal Reserve's minutes on Thursday. They are likely to confirm that the central bank is maintaining a more dovish approach to monetary policy. This could be a positive signal for the markets if geopolitics do not spoil investor sentiment.