March 12–19, 2016

Bank of Japan Interest Rate Decision & Monetary Policy Statement

The Bank of Japan will release its interest rate decision this Monday. After pushing its benchmark interest rate negative earlier this year, BOJ is not expected to implement any further easing until July.

United States Retail Sales

With inventory-to-sales ratio at multi-year high, February’s Retail Sales data will provide the most recent outlook for consumer spending which accounts for 70% of U.S. GDP. The general consensus is for an increase of 3.4% YoY, slightly up from 3.29% YoY last month.

United States Consumer Price Index

U.S. headline and core Consumer Price Index (CPI) will be released this Wednesday. This will provide the Federal Open Market Committee (FOMC) one last look at the inflation outlook before its monetary policy statement later that afternoon.

 Forex Trading | Jarratt davis

Forex Trading | Jarratt davis

Fed Interest Rate Decision & Monetary Policy Statement

All eyes of the market will be on the U.S. Federal Reserve Federal Open Market Committee (FOMC) statement and the Fed Economic projections on Wednesday, March 16 at 2:00 pm. Interest rate is expected to remain between 25 to 50 basis point with Fed Funds Futures point to a mere 8% possibility of rate hike.

Canada Consumer Price Index

Canadian Consumer Price Index (CPI) data will be released this Friday. Core inflation is expected to stay steady at 2% YoY, while headline inflation is expected to decline to 1.6% YoY due to slumping commodity prices.