US retail sales data stands out | FX Research

The yen didn’t move all that much but did manage to post a 4-day low against the buck after the Bank of Japan maintained its interest rate as expected while planning to reduce bond purchases quarterly starting next fiscal year. BoJ Governor Ueda signaled potential rate hikes if economic and inflation forecasts held, but highlighted risks from U.S. tariffs, domestic food inflation, and weaker economic data expected in the second half of the year.

In global markets, the U.S. dollar remained stable. EUR/USD softened despite a strong German ZEW survey, and oil prices were relatively contained considering Middle East tensions and a tanker collision off the UAE coast.

U.S. stock futures are under a little pressure as Senate Republicans proposed tax cuts that could widen deficits, while upcoming U.S. retail sales data and ECB commentary on strengthening the euro’s global role have kept markets focused—also ahead of tomorrow’s highly anticipated Fed decision.

For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.  

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