A holiday across much of Asia, but Japan is open. We get PMI data from there & from China

💡 DMK Insight

With Japan’s services PMI data on the table, traders should brace for potential volatility. While the broader Asian market is quiet due to the Good Friday holiday, Japan’s economic indicators could set the tone for the week. The recent expansion in Japan’s manufacturing sector, albeit losing momentum, suggests a mixed outlook. Meanwhile, China’s PMIs showing expansion could indicate a rebound in demand, which might influence commodity prices and related currencies. Traders should keep an eye on the USD/JPY pair, especially if the services PMI beats expectations, as it could push the pair towards key resistance levels. Conversely, a disappointing figure could lead to a sell-off, particularly for the yen. Watch for any shifts in sentiment as these numbers are released, as they could ripple through to other markets, especially those tied to Asian exports. The real story is how these indicators will affect risk appetite heading into next week’s trading sessions.