Asia Economic Calendar: Japan and Australia in Focus
Asia Economic Calendar: Japan and Australia in Focus
Tuesday, July 30, 2024
Hey there, market watchers!
Today, the economic spotlight is on Asia, with key data releases from Japan and Australia shaping up to be market movers. Let’s dive in!
Japan: All Eyes on the Bank of Japan
The big story in Japan today is the Bank of Japan (BOJ) meeting, which kicks off later today. While no policy change is expected, investors will be closely watching for any hints about a potential shift in the central bank’s ultra-loose monetary policy. Any unexpected hawkish comments could send shockwaves through the financial markets, boosting the Japanese yen.
Australia: Building Permits in the Spotlight
Down under, Australia will release its preliminary building permit data for June. While not the most exciting release, this figure can provide insights into the health of the housing market, which is a significant driver of the Australian economy. A decline in building permits could signal weakening construction activity and potentially weigh on the Australian dollar.
Market Impact and Outlook
The combined impact of these releases on global markets will depend on the specific numbers and any accompanying commentary. A hawkish tilt from the BOJ could strengthen the yen and put downward pressure on the US dollar. Meanwhile, a disappointing building permit reading from Australia could dampen investor sentiment towards the Aussie.
Stay tuned for updates as the data rolls in!
