Forex Top Team

Market Calm as Tokyo and Chinese Markets Remain Closed, Ahead of Tomorrow’s US CPI Release

The beginning of the week sees Japan observing a substitute holiday for National Foundation Day, while China and Hong Kong are closed for the Lunar New Year. Trading during Tokyo and Asian hours remains subdued. The dollar-yen range has held steady between 149.08 and 149.32, while the euro-dollar has remained within a narrow range of 1.0780 to 1.0800.

In the stock markets, Australian and New Zealand stocks have seen minor declines. Although the Nasdaq index ended last week on a positive note, US stock futures have faced slight downward pressure at the start of the week. Today lacks any significant corporate earnings announcements, with attention turning to the earnings reports of IT-related companies such as Cisco Systems on the 14th.

Economic indicators scheduled for release in the international markets are sparse. These include Turkey’s unemployment rate (December), India’s industrial production index (December), and India’s consumer price index (CPI) (January). The New York Fed’s one-year inflation expectations will be released on the 13th, with no major economic indicators scheduled for release from the US, UK, or Europe.

The focus of the week will be on the US Consumer Price Index (CPI) on the 13th, along with the New York Fed’s Manufacturing Business Conditions Index, US Retail Sales, and Industrial Production reports scheduled for the 15th. Additionally, on the weekend of the 16th, the US Producer Price Index, University of Michigan Consumer Sentiment and Inflation Expectations, and US Housing Starts data are scheduled for release.


Today’s market is anticipated to remain range-bound without significant economic indicators. We do not plan to enter any positions. We will be closely watching the market’s reaction after tomorrow’s US CPI release.

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