Investors are gearing up for a busy week ahead, when the bulk of the S&P 500 components report earnings, the dollar could see if it’s regained any forex-appeal and the Bank of Japan’s new governor chairs his first policy meeting.A trader on the floor at the New York Stock Exchange in New York during the opening bell on April 17.The heart of first-quarter U.S. earnings season arrives next week, with some of the biggest companies reporting results.
Bank of Japan Governor Kazuo Ueda participates in a news conference at the Fairmont Washington D.C. Georgetown hotel in Washington, U.S., April 13.New Bank of Japan governor Kazuo Ueda chairs his first monetary policy meeting at the end of the week. Confidence is growing that ultra-dovish policy will remain unchanged next Friday, but economists flag the non-negligable risk of another surprise.
Corporate Japan, for its part, wants Ueda to focus on market stability rather than policy changes, a Reuters poll showed.DENIS BALIBOUSE/Reuters Things reached boiling point with Credit Suisse’s hastily arranged takeover by rival UBS. The whole debacle wiped almost $180 billion off the value of Europe’s banks at one point. The sector has since recovered, but it’s still worth $70 billion less than it was before Silicon Valley collapsed in early March.
Those expectations have pushed the euro, the pound and the Swiss franc to multi-month highs, although this rally could lose steam as markets reassess whether Fed cuts are really coming.