Bank of Japan starts meeting, upcoming calendar light

The calendar for Asia-Pacific trading in the upcoming session lacks any kind of strong catalyst. The BOJ begins its two-day meeting but there won’t be any announcement until Wednesday.

Two events on the calendar might attract some interest. The first is the Q2 report on inflation expectations from New Zealand’s central bank at 0300 GMT. The market is leaning toward a rate hike late in the year or in early 2014 but there are some worries about house price inflation which could move that forward. Signs of high inflation expectations in this report could help NZD rebound.

At 0430 GMT, Japan publishes the all-industry activity index for March. It’s a laggy data point and misses in more-important data points have done almost nothing to JPY but it bears watching. The consensus estimate is -0.4%.