The dollar is keeping steadier still so far this week, trading lightly changed on the day. USD/JPY remains the one in the spotlight with the pair now trading up to around 147.90. It seems that traders are unconvinced of a more hawkish take by the BOJ going into next week’s meeting, despite early optimism on the spring wage negotiations outcome.
It is definitely shaping up to be yet another placeholder session in European trading today. That considering we have a slew of US data releases coming up later. Of note, we’ll get retail sales, PPI, and weekly jobless claims data to work through. As such, trading appetite might be a bit more muted until we get to that.
The lack of any major economic releases in Europe isn’t going to help the mood either.
0730 GMT – Switzerland February producer and import prices
0800 GMT – Spain February final CPI 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.