- Analytics
- Market Opportunities
Market Opportunities : Week 18-03-2024 - 22-03-2024
USDIDX: Federal Reserve interest rate decision is the key event in the March 18 – 22 week. Fed chair Jerome Powell will hold a conference on March 20. Members of Federal Open Market Committee have expressed their support for need to wait for confirmation the inflation is falling back to target 2% rate and solid February jobs report and uptick in inflation to 3.2% give support to bullish views on dollar. It is widely expected the Fed will hold rates steady at its March meeting. However signals by policy makers that they are close to starting the cycle of rate cuts will be bearish for USDIDX.
USDJPY: Bank of Japan (BOJ) interest rate decision due on March 19 is an important economic event. BOJ has held short term rates at -0.1% since 2016. Mildly stronger than expected February producer price index inflation spurred speculation BOJ may consider ending its negative interest rates policy at March meeting. A BOJ decision to leave rates unchanged at its March meeting will be bullish for USDJPY.
USDJPY: Bank of Japan (BOJ) interest rate decision due on March 19 is an important economic event. BOJ has held short term rates at -0.1% since 2016. Mildly stronger than expected February producer price index inflation spurred speculation BOJ may consider ending its negative interest rates policy at March meeting. A BOJ decision to leave rates unchanged at its March meeting will be bullish for USDJPY.
Key Events to Watch
| Date | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 2024-03-19 | JPY | Bank of Japan (BoJ) Interest Rate Decision | -0.1% | |
| 2024-03-19 | AUD | Reserve Bank of Australia (RBA) Interest Rate Decision | 4.35% | |
| 2024-03-19 | JPY | Bank of Japan (BoJ) Press Conference | ||
| 2024-03-19 | USD | United States Building Permits | 1.482 M | 1.470 M |
| 2024-03-20 | USD | EIA United States Crude Oil Stocks Change | ||
| 2024-03-20 | USD | Federal Reserve System (Fed) Interest Rate Decision | 5.50% | |
| 2024-03-20 | USD | Federal Open Market Committee (FOMC) Press Conference | ||
| 2024-03-21 | EUR | European Union Leaders Summit | ||
| 2024-03-21 | BRL | Central Bank of Brazil Interest Rate Decision | 11.25% | |
| 2024-03-21 | NZD | New Zealand Gross Domestic Product (GDP) q/q | 0.2% | -0.3% |
| 2024-03-21 | AUD | Australia Employment Change | 4.5 K | 0.5 K |
| 2024-03-21 | NOK | Norges Bank Interest Rate Decision | 4.50% | |
| 2024-03-21 | GBP | Bank of England (BoE) Interest Rate Decision | 5.25% | |
| 2024-03-21 | USD | United States Existing Home Sales | 3.88 M | 4.00 M |
| 2024-03-21 | MXN | Bank of Mexico Interest Rate Decision | 11.25% | |
| 2024-03-22 | EUR | European Union Leaders Summit | ||
| 2024-03-22 | GBP | United Kingdom Retail Sales m/m | 1.6% | 3.4% |
| 2024-03-22 | EUR | Ifo Germany Business Climate | 86.3 | 85.5 |
| 2024-03-22 | CAD | Canada Retail Sales m/m | 0.0% | 0.9% |
| 2024-03-22 | CAD | Canada Core Retail Sales m/m | 0.6% | 0.6% |
