Eurozone inflation in focus in the session ahead

<p>Japanese yen bulls were left disappointed by the BOJ once again as the central bank continues to kick the can down the road. Each and every time they could have made a statement to markets, they decide to back down and play it safe instead. It has been the case ever since Ueda took over in April.</p><p>And even with higher inflation forecasts, who is to say that is a guarantee that they will be looking to confirm any policy normalisation any time soon? Policymakers have already touted next year's spring wage negotiations as being key, but so was the one this year and all the other developments over the last few months. And yet, that hasn't been enough for the BOJ to take a bolder approach.</p><p>USD/JPY is now trading back up to 150.10 on the day and looking to push back above the figure level as it did last week. Meanwhile, the dollar is able to find a steadier footing as such with equities a bit more sluggish following yesterday's advance.</p><p>Looking to the session ahead, the euro will continue to be a focus point with plenty of data to scrutinise. The most important being euro area inflation data, which should reaffirm softer price pressures in general. That will be a welcome development in easing pressure on the economy while allowing the ECB to maintain a higher for longer narrative at least for now.</p><p>0630 GMT – France Q3 preliminary GDP figures0700 GMT – Germany September import price index0700 GMT – Germany September retail sales0745 GMT – France October preliminary CPI figures0900 GMT – Italy Q3 preliminary GDP figures1000 GMT – Eurozone Q3 preliminary GDP figures1000 GMT – Eurozone October preliminary CPI figures</p><p>That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.</p>

This article was written by Justin Low at www.forexlive.com.