This week is the start of the series of Japanese public holidays known as “Golden Week”, and liquidity will undoubtedly be withdrawn from the market, so caution is required when trading through the Tokyo sessions. The data flow starts relatively softly on Monday with Personal Consumption Expenditure (PCE) out of the US at 12:30 GMT. Tuesday delivers Eurozone GDP and German CPI data at 09:00 and 12:00 respectively. Canadian GDP follows at 12:30 with US Consumer Confidence data fallowing at 14:00. There’s a late end to a full day with New Zealand employment numbers out at 22:45. Wednesday is the start of a whole new month and the US get in first with ADP employment at 12:15 which is expected to confirm all the good employment news emerging from the US. Manufacturing PMI follows at 14:00. The Federal Open Markets Committee (FOMC) interest rate decision comes at 18:00 but no change is expected, As usual though, watch the accompanying conference for clues regarding future interest rate decisions. The UK stages their own version of this at 11:00 Thursday, Again, we are not expecting anything immediate here but with the Government under increasing political pressure and with a number of local elections also being held the day is expected to end quite badly for the Conservatives regardless. Friday starts with Australian Building Approvals at 01:30, and we can’t in all conscience recommend staying awake for that. Eurozone CPI follows at the more civilised hour of 09:00 but the event of the week, as usual, is the Non-Farm Payroll and Labour Market data that hits the market at 12:30 GMT.