The inflation data for Europe will be released tomorrow, which is expected to decrease from 6.1% to 5.6%. However, if the data is higher than 5.9%, it could present a great buying opportunity for EURJPY. On the other hand, if the data is below 5.3%, it may be wise to consider going short on EURCAD.
In addition, the PCE data for the United States will also be released, which is the Fed's favorite measure of inflation. The Core PCE is expected to remain at 4.7%, but if the data is better than expected, it could present a buying opportunity for USDJPY. However, if the data surprises the market by decreasing more than 4.6%, it may be wise to consider going short on USDCAD.
In addition, the PCE data for the United States will also be released, which is the Fed's favorite measure of inflation. The Core PCE is expected to remain at 4.7%, but if the data is better than expected, it could present a buying opportunity for USDJPY. However, if the data surprises the market by decreasing more than 4.6%, it may be wise to consider going short on USDCAD.