After many Economic Data Release from Japan. What to expect now?

Today’s Important Indicators

The markets today will be focusing on the UK GDP, the CAD GDP and the US GDP, all of which are scheduled to be announced through the course of the day.

Today’s Forecast for Important Trading Indicators

Time in GMT	Country	Indicator	Expected	Previous
09:30	UK	Prelim GDP q/q	0.4%	0.6%
13:30	CAD	GDP m/m	0.1%	0.6%
13:30	US	Advance GDP	1.3%	2.1%

Market Movers

We had the huge end-of-month data dump from Japan;

Headline CPI
Core CPI
Core-core CPI
Household spending
Unemployment rate
Job-To-Applicant Ratio
Retail Sales
Industrial production

To keep it brief inflation results were (as expected) way below target still, household spending fell again, retail sales gained, and industrial production slowed from recent strong results, and finally industrial production for which the outlook is for a sharp rise in the April figures. It seems despite all the news and data flow out of Asia, the market wants to wait for US GDP today. USD/JPY popped to 111.30 (just above) and then down to 111.10 (just below) for a narrow range also.
We also got some news from New Zealand and Australia but the currency movement was very subdued as if no one was paying attention. EUR, CHF, AUD and NZD are all little changed against the USD after small ranges only.
Cable managed to move itself a little higher, and is above 1.2900 and it is looking like it has the potential to move higher. USD/CAD has had a small range but it also starting to make its way higher.

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