The Bank of Japan is in Action ahead of U.S Consumer Confidence FiguresThe Bank of Japan and the monetary policy press conference will draw attention early in the day. Late in the day, U.S consumer confidence will also be in focus.
Earlier in the Day:
It was another quiet start to the day on the economic calendar this morning. There were no material stats to provide the markets with direction through the Asian session.
Later this morning, the Bank of Japan is in action, delivering its first policy decision of the 2nd quarter.
The markets are not expecting any moves, however, which will leave the focus on the Kuroda press conference later in the day.
For the Majors
The Day Ahead:
For the EUR
It’s a quiet day ahead on the economic data front. There are no major stats due out of the Eurozone to provide the EUR with direction.
With little to consider, Italian business and consumer confidence and Eurozone business climate figures will draw attention early in the session.
At the time of writing, the EUR was down by 0.07% to $1.2077.
For the Pound
It’s another particularly quiet day ahead on the economic calendar.
There are no material stats to provide the Pound with direction. A lack of stats will continue to leave the Pound in the hands of COVID-19 news and government plans to further ease lockdown measures.
At the time of writing, the Pound was down by 0.06% to $1.3890.
Across the Pond
It’s a relatively busy day ahead on the economic calendar. Consumer confidence and house price figures are due out later today.
Expect April’s consumer confidence figures to have the greatest impact on the Dollar and the broader markets.
Consumer confidence will need to continue to pickup to support the optimistic economic outlook.
At the time of writing, the Dollar Spot Index was up by 0.09% to 90.891.
For the Loonie
It’s another particularly quiet day ahead on the economic calendar. There are no material stats due out to provide the Loonie with direction.
The lack of stats will continue to leave the Loonie in the hands of market risk sentiment on the day. Downside will be limited, however, following last week’s BoC decision and forward guidance.
At the time of writing, the Loonie was down by 0.02% to C$1.2400 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.