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Coming up on Friday, if you are in Europe, or Thursday if you are in the Americas, we have two bits of important data that may have an impact on the JPY and its respective pairs.
With most of Asia closed for the Lunar New Year, a corresponding drop in liquidity is to be expected. This could heighten the possibility of more volatility during the Asian session in response to news releases.
We’ll go in chronological order of things to keep in mind ahead of the important data releases.
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Overall Household Spending
We start at 00:30 CET (18:30 EST) with Overall Household Spending, which is used as a gauge of consumer optimism.
If consumers think that difficult times are ahead, they will prefer to try to save. Consumers are also the largest component of the economy, so increasing consumer spending is considered a proxy for the economy.
Higher consumer spending is gener...
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