US FOMC Policy Meeting, BOE Rate Decision & Big Data Week for Japan

As we move into another week, there are several key events to keep on your radar. As usual, these are the top events most likely to determine price action and trends this week. 

Got something else to add? Share your thoughts in the comments below!

US Dollar

March 16th, 2021 – 12:30 GMT

Wall Street will closely watch the US retail sales report. Last month, stimulus checks assisted customers in making significant purchases. According to the most recent retail sales survey, spending slowed in February. If consumer spending remains high, Treasury yields could rise as a result.

March 16th, 2021 – 17:00 GMT

Also, on Tuesday, bond watchers will be paying close attention to the 20-year bond auction. A lack of demand may be a catalyst for much higher Treasury yields.

March 17th, 2021 – 18:00 GMT

The FOMC policy meeting will be the key event of the trading week. The United States’ economic recovery is picking up momentum, and inflation worries are starting to surface. Any upbeat remarks about the economy would almost certainly push rate hike expectations ahead.

British Pound

March 18th, 2021 – 12:00 GMT

On Thursday, the Bank of England will hold its policy meeting, with the Official Bank Rate forecast to remain at 0.10%. 

The bank is expected to keep its asset purchase program at £895 billion, but it will be cautious about being too ambitious and will instead concentrate on the risks to the outlook. 

The Bank of England needs flexibility in its bond-buying program as the UK experiences the worst economic downturn in 300 years.

Japanese Yen

March 19th, 2021 – 03:00 GMT

Machinery Orders, Industrial Production, Inflation, and the Tankan Survey are all part of Japan’s big data week. On Friday, however, all eyes will be on the Bank of Japan meeting. Markets will be searching for a better description of the BOJ’s upper tolerance for JGB yields (conveniently after the FOMC).

Got something else to add? Share your thoughts in the comments below!

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