Markets are looking forward to a busy week, dominated by three G7 central bank meetings, which could cause turbulence.
➡️ Three major central bank policy meetings are scheduled for this week: the US Federal Reserve, the Bank of Japan, and the Bank of England. No rate changes are expected, with the strongest possibility of a rate hike by the Bank of Japan. The Bank of Japan will be closely watched as it now says inflationary pressures are strong enough to really start to move away from its ultra-easy monetary policy. The Japanese yen made huge gains last week and is up against almost all major currencies today.
➡️ Stock markets finally saw a recovery on Friday after a week of steady losses. Asian stocks followed U.S. markets higher, with solid gains seen across major Asian indices today. Both the Nikkei 225 index That the HSI rose above 1.5% today.
➡️ Some of the major tech companies releasing this week could be important to the trend of NASDAQ 100 Index , which has recently underperformed broader market indexes.
➡️ In the Forex market, there has been very limited price movement since the opening of Tokyo today.. I see the Japanese Yen as the likely most important major currency, at least until the Federal Reserve meeting later this week, with the AUD/JPY currency cross in the foreground.
➡️ It will likely be a quiet day for the market, given that it is Monday and there is no major economic data expected today.
Credit by DailyForex.com