Today marks the start of a series of active days on the market. At the very beginning of the day, the Bank of Japan held a meeting. The regulator refrained from reducing the rate this time, but expressed its readiness to do it in the future. Meanwhile, the pressure on the Japanese economy is increasing: recent reports show a decline in production by 3.6%, while the forecast was a decline of 2%. The Australian dollar was also under pressure after the report on the reduction in the number of construction permits, contrary to forecasts.
In the second half of the day, the key event will be the publication of indexes of consumer confidence and pending home sales in the real estate market of the United States. Meanwhile, Oil and Gold are rising in price, in anticipation of the FED's rate adjustment tomorrow. The rate cut will be the first in more than 10 years, and there is no more doubt, given also Donald Trump's criticism of the FED and their unwillingness to stimulate the US economy.
At the very end of the day, traditionally expected data on weekly oil reserves in the United States will be published. A week earlier, inventories had declined by more than 10 million barrels, which supported oil prices.
