Japan GDP Contracts, Aus Employment Surges

Written by

Anthony Bull

Daily Currency Update

Japan GDP Contracts, Aus Employment Surges

  • Yesterday Bank of England’s Chief Economist Huw Pill indicated the possibility of reducing interest rates over the summer if economic trends persist. He also expressed concerns about wage growth exceeding targets, potentially impacting future monetary policy decisions.
  • At 10:00 AM, the preliminary EUR Gross Domestic Product (QoQ) for Q1 is expected, with forecasts and the previous figure both at 0.3%.
  • At 1:30 PM, the USD Consumer Price Index (MoM) for
  • April is anticipated to match the previous and forecasted value of 0.4%. Additionally, USD Retail Sales (MoM) for April will be released, with the previous figure at 0.7% and no forecast available.
  • Later in the day, speeches by Fed’s Kashkari at 5:00 PM
  • and Fed’s Bowman at 8:20 PM are scheduled, potentially offering insights into future monetary policy.
  • GBP/USD climbs toward 1.2600 in the early Asian sessions this morning. As the US Dollar struggles, allowing the pair to hold steady ahead of the April CPI and Retail Sales report.

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