Today’s economic calendar includes significant events and data releases.
In Japan, household spending data indicated a decline in consumption, signaling potential economic weakness. In Switzerland, the SECO Consumer Climate Index came in well below expectations at -33, pointing to a substantial drop in consumer confidence.
In Europe, ECB official McCaul’s speech and the European Leaders Summit are key events on the radar for market participants, as they may offer insights into the Eurozone’s economic and political outlook.
In the afternoon, Canadian employment change and unemployment rate data are expected to influence the Canadian dollar (CAD). An anticipated increase in the unemployment rate could contribute to negative sentiment toward the Canadian economy.
In the U.S., data from the University of Michigan on inflation expectations and consumer sentiment will provide valuable insights into the inflationary environment and overall economic outlook. Later in the day, a speech by FOMC member Bowman could offer additional clarity on the future direction of U.S. monetary policy.
In summary, Volatility is expected across major currencies, including the Japanese yen (JPY), Canadian dollar (CAD), and U.S. dollar (USD). Investors are advised to remain cautious as they navigate the impact of today’s economic events and data releases.
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