The dollar is steadier so far on the day, keeping a slight advance across the board. USD/JPY remains in the spotlight after Japan intervened yesterday, with the pair now seen at 156.70 levels. For now, it seems like officials are happy to keep a lid on things but we’ll see how things continue to play out during the week. That especially with the Fed and the US jobs report still on the cards.
As we look towards month-end, equities are keeping in a good mood still. Stocks are building on last week’s rebound, hoping to restart another bullish run going into May. US futures are more tepid today though, with S&P 500 futures down 0.1%.
Looking to European trading, there will be a slew of data releases to work through. Of note, we will be getting preliminary CPI and Q1 GDP data across the euro area. Barring any major surprises, the data should have limited impact as traders are already well adjusted on the ECB’s next move for now.
The expectation is for the Eurozone economy to grow marginally in Q1 while inflation is estimated to moderate further in April.
0530 GMT – France Q1 preliminary GDP figures0600 GMT – Germany March import price index0600 GMT – Germany March retail sales0645 GMT – France April preliminary CPI figures0700 GMT – Spain Q1 preliminary GDP figures0755 GMT – Germany March unemployment change, rate0800 GMT – Germany Q1 preliminary GDP figures0800 GMT – Italy Q1 preliminary GDP figures0830 GMT – UK March mortgage approvals, credit data0900 GMT – Eurozone April preliminary CPI figures0900 GMT – Eurozone Q1 preliminary GDP figures
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.
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