A light one on the data docket in Europe today

After some back and forth action yesterday, the dollar is holding steadier so far on the day at least. USD/JPY is in focus after the BOJ policy decision earlier, as the pair cautiously extends higher above 156.00. Ueda’s press conference is up next and that will be one to watch, to see if he will take the punchbowl away from the party.

Elsewhere, US futures are rocking higher after earnings beat from Alphabet and Microsoft. That is helping investors put behind the disappointment from Meta in the day before that. S&P 500 futures are up 0.8% with Nasdaq futures up 1.2% currently.

In Europe, there won’t be much on the calendar to really shake things up. So, the focus will stay on the above developments mostly. All that before we get to the US PCE price data later in the day. It is the Fed’s preferred measure of inflation and I shared some thoughts on the possible market reaction here.

0645 GMT – France April consumer confidence0800 GMT – Eurozone March M3 money supply

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.