Forex week ahead: US GDP, BoJ and core PCE inflation
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This week's main events in the forex market include the release of US GDP data, the Bank of Japan's (BoJ) meeting, and the release of the core PCE inflation figure. Economists expect the US GDP growth rate for Q1 2024 to be 2.5%, down from 3.4% in the previous quarter. The BoJ is expected to leave rates unchanged after a previous rate hike failed to strengthen the Yen. The core PCE inflation figure, which is the Fed's preferred gauge of inflation, will be closely watched. A higher-than-expected figure could weigh on markets, while a lower figure would be welcome. The US figures this week will shape the Fed's decision next week, and the BoJ may struggle to halt the Yen's deterioration.
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