That being said, it's not going to be the only thing that could move markets this week. Let's take a step back and weigh the other things in play in the next few days.
But as was the case last month, the big thing to watch is how much impact from DOGE-related layoffs will show up in the data. That's still an interesting quandary that could sway broader markets depending on what we see from the numbers at the end of this week.
So, the inflation figures tomorrow could seal the deal on a rate cut. But the medium-term outlook for the ECB is definitely going to be more complicated in the months ahead. Germany's spending package has the potential to stir up inflation and that's something the central bank has to watch out for going into next year.
Sticking with central banks, there's also the RBA monetary policy decision tomorrow to work through. Traders are not expecting a rate cut just yet but this latest shocker in terms of labour market data has definitely raised the odds of a less hawkish tone by the central bank.
The RBA delivered a hawkish cut in February here but it looks like they might have to change their tone now before moving into May.
This article was written by Justin Low at www.forexlive.com. Read More Details
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