If you’ve taken one look at your forex calendar, then you’ve noticed that Japan doesn’t have any top-tier data on tap this week. Heck, Japan’s market will even take multiple holidays in the next couple of days!
That means we have to look at other data releases for potential volatility!
Manufacturing and services PMIs from other major economies is a good start.
China will fire the first salvo with its official figures tomorrow, followed by the U.K., Canada, and the ISM version of Uncle Sam’s on Wednesday.
The parade will start to die down after the euro zone publishes a bunch of PMIs from the region on Thursday.
Central bankers will also take center stage this week. The Fed will publish its policy decision on Wednesday, a day before the Bank of England (BOE) publishes its own decisions.
While analysts aren’t expecting changes from Powell and Carney’s teams this week, they will watch out for any remarks that might hint at policy actions in the foreseeable future.
Last but definitely not the least are the NFP-related reports. If y’all recall, better-than-expected data releases from the U.S. can either lift dollar demand or overall risk sentiment.
If this week’s numbers point to further strength for Uncle Sam, then we might see the low-yielding yen trade lower across the board.
Missed last week’s price action? Read JPY’s price recap for April 22 – 26!