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π± Target levels and forecast for the week 18.03. β 22.03.
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China's data block will set the mood at the opening of the week.β
BOJ is ready to withdraw stimulus and a rate hike tomorrow is very likely. This will cause USD/JPY to fall and will have an impact on the overall trend of the dollar. If the decision is postponed again, it would be logical for USD/JPY to rise at the time of publication followed by a downward reversal during Ueda's press conference.
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No rate correction is also expected at Wednesday's Fed meeting. A change in rate guidance in the accompanying statement is unlikely as there was no advising data to do so.
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The RBA and BOE will leave rates unchanged, listen carefully for general comments. The reaction to the BOE decision depends on the breakdown of votes, Bailey's rhetoric will be influenced by the British inflation report on Wednesday.
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Thursday's economic data, especially Eurozone and British PMIs, are important for the USD trend after the Fed meeting.
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Recall the fundamental events that you need to pay attention to (GMT 0 time):
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Tue, 19
JPY: BoJ Monetary Policy Statement, Interest Rate Decision (02:30); Press Conference (06:30)
AUD: RBA Interest Rate Decision, Rate Statement (03:30)
EUR: ZEW Economic Sentiment (10:00)
USD: API Weekly Crude Oil Stock (20:30)
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Wed, 20
CNY: PBoC Loan Prime Rate (01:15)
GBP: CPI, PPI Input (07:00)
EUR: ECB President Lagarde Speaks (08:45)
USD: Crude Oil Inventories (+Cushing) (14:30) FOMC Projections, Fed Interest Rate Decision (18:00); FOMC Press Conference (18:30)
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Thu, 21
AUD: Employment Change, Unemployment Rate (00:30)
EUR: Manufacturing, Composite, Services PMI (09:00)
GBP: Composite, Manufacturing. Services PMI (09:30); BoE Interest Rate Decision (12:00)
USD: Initial Jobless Claims (12:30); Manufacturing, Services PMI (13:45)
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Fri, 22
AUD: RBA Financial Stability Review (00:30)
GBP: Retail Sales (07:00)
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For more news β see Economic Calendar.
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Profits to yβall!