Wednesday’s evening session is loaded with APAC action.
Japan releases its full December trade data slate — exports, imports and the trade balance — offering a fresh read on external demand and yen sensitivity.
Shortly after, Australia takes centre stage with its December labour market report, where employment, participation and the jobless rate will be key for near-term RBA expectations.
Thursday then pivots decisively back to Europe and the US.
Early on, Germany’s Buba report and ECB monetary accounts set the euro tone before US markets are hit with a dense macro block: Q3 GDP and price components, jobless claims, and a full run of PCE inflation, income and spending data for October and November.
With core PCE at the heart of Fed reaction functions, this cluster has the potential to drive rates and FX into the weekend – Next week will welcome the January FOMC Meeting (Decision on Wednesday 28!)
Looking ahead, tomorrow’s evening session could be especially eventful, as the Bank of Japan steps into focus.
While any move is far from guaranteed, markets are increasingly alert to the risk of a potential (not-so-surprising) rate hike — a scenario that could boost recent JPY volatility even further
Safe Trades, keep a close eye on Middle East and Greenland developments!
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