There is a heavier news schedule this week, which includes input from central banks concerning the USD and JPY. The most important scheduled event of the month in the Forex market is the FOMC Statement and Federal Funds Rate release, and that will be happening on Wednesday.

The key days this week are likely to be Wednesday and Friday.

U.S. Dollar

It will be an important and fairly busy week for the Greenback, beginning on Tuesday with a release of CB Consumer Confidence data. On Wednesday we will get the all-important FOMC Statement and Federal Funds Rate as well as Crude Oil Inventories and Core Durable Goods Orders. Crude Oil Inventories data. Thursday will see a release of Unemployment Claims numbers. Finally on Friday we will get Advance GDP data.

Japanese Yen

It will be an important week for the Yen, but it all happens on Friday with the release of the Bank of Japan’s Monetary Policy Statement and Outlook Report, followed by the usual Press Conference.

Euro

It will be a fairly light week for the Euro, with German IFO Business Climate data released on Monday. Late on Friday there will be a release of the EBA Bank Stress Test Results.

British Pound

It will be a very light week for the Pound, with nothing due except Preliminary GDP data on Wednesday.

Canadian Dollar

It will be a very light week for the Loonie, with nothing due except GDP data on Friday.

Australian Dollar

It will be a very light week for the Aussie, with nothing due except CPI data on Wednesday.