[Next Week's Macro Outlook: U.S.-Iran Agreement May See 'Phased Progress,' U.S.-Japan Interest Rate Paths Could Become Clearer] BlockBeats News, May 24 — Regarding the nearly three-month-long conflict, Iran, the United States, Pakistan, and several international media outlets signaled on Saturday that negotiations have made progress, indicating that all parties are moving toward phased outcomes. Next week, if this trend continues to be confirmed and implemented, risk appetite in capital markets may return, potentially leading to a rebound in U.S. stocks and crypto markets. On the macroeconomic front, key figures from the U.S. and Japanese central banks will deliver a series of speeches next week, which may further clarify the next phase of interest rate expectations: - Tuesday, 22:00: U.S. May Conference Board Consumer Confidence Index - Wednesday, 08:00: Speech by Bank of Japan Governor Kazuo Ueda at a monetary policy meeting hosted by the Bank of Japan - Wednesday, 20:15: U.S. ADP Employment Change for the week ending May 9 - Thursday, 20:30: Canada Q1 Current Account Balance, U.S. Initial Jobless Claims for the week ending May 23, U.S. April Core PCE Price Index YoY, U.S. April Personal Spending MoM, U.S. Q1 Annualized GDP Growth Rate (Revised), U.S. April Core PCE Price Index MoM, U.S. April Durable Goods Orders MoM - Thursday, 20:55: Keynote speech by FOMC permanent voting member and New York Fed President John Williams at a conference organized by the Central Bank of Iceland - Thursday, 22:15: Speech by 2028 FOMC voting member and St. Louis Fed President James Bullard - Friday, 07:30: Japan April Unemployment Rate - Friday, 18:50: Speech by 2028 FOMC voting member and Kansas City Fed President Esther George - Friday, 21:10: Speech by Federal Reserve Governor Michelle Bowman Additionally, on Monday (May 25), U.S. stock markets will be closed for Memorial Day. Trading of precious metals and crude oil futures contracts on the CME will pause at 02:30 Beijing time on May 26, while trading of U.S. stock and bond futures contracts will pause at 01:00 Beijing time on May 26. Trading of Brent crude oil futures contracts on the Intercontinental Exchange will end early at 01:30 Beijing time on May 26.