Fed Rate Cut Hopes Fade as Oil Prices Stoke Inflation Fears 
RBA Set for Back-to-Back Rate Hikes, Westpac Forecasts 
RBA Raises Cash Rate to 4.10% in Closest Vote Since Transparent Voting Began 
ANZ and Westpac Forecast Two RBA Rate Hikes in March and May 2026 
Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
Bank of Japan Governor Signals Gradual Progress Toward 2% Inflation Target 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- China: Fixed asset investments up 7 percent y/y in March. Industrial production rose by 7 percent y/y in March. Retail sales grew 9.4 percent y/y.
Upcoming:
- Germany: Q1 GDP report will be released at 6:00 GMT, followed by ZEW survey report at 9:00 GMT.
- France: Consumer price inflation report will be released at 6:45 GMT, along with Q1 nonfarm payrolls report.
- Switzerland: April producer price inflation report will be published at 7:15 GMT.
- United Kingdom: ILO unemployment report will be released at 8:30 GMT.
- Eurozone: Q1 GDP report will be released at 9:00 GMT, along with ZEW survey report.
- United States: FOMC member Kaplan is set for a speech at 12:00 GMT. New York empire state manufacturing report will be released at 12:30 GMT, along with retail sales, and followed by NAHB housing market report at 14:00 GMT. FOMC member Williams is set for a speech at 17:00 GMT
- Japan: Q1 GDP report will be released at 23:50 GMT.
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