After some back and forth yesterday, the dollar remains stable so far, at least for the day. USD/JPY is in focus after the BoJ’s policy decision earlier, as the pair cautiously extends above 156.00. Ueda’s press conference is next and it will be one to watch, to see if he takes the punchbowl out of the party.
Elsewhere, US futures are higher after profits from Alphabet and Microsoft rose. This helps investors overcome the Meta disappointment of the day before. S&P 500 futures are up 0.8% and Nasdaq futures are currently up 1.2%.
In Europe, there won’t be much on the calendar that can really shake things up. Thus, the focus will remain primarily on the above developments. All that before we get to the US PCE price data later today. This is the Fed’s preferred measure of inflation and I’ve shared some thoughts on how the market may react here.
06:45 GMT – French consumer confidence in April
08:00 GMT – Eurozone March M3 money supply
That’s all for the upcoming session. I wish you good days ahead and good luck in your trading! Stay safe out there.
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