Dhara Ranasinghe gives us a look at what lies ahead for the markets.

Weak-currency gangs are growing in number.

On Thursday, the Bank of Japan doubled its extremely low yield policy and the yen crashed to a two-decade-low against the dollar. Euro is down by 5% this month. It has fallen 4.6% in April and fell another 0.8% Thursday.

It’s important to pay attention to what policymakers do and say, particularly in the Euro zone, where inflation has already reached record levels.

All of these currencies and others across emerging markets are under attack from a runaway Dollar, which has surged to 5-year highs in relation to a range of peer currencies. This is due to expectations of large U.S. rate increases.

The global slowdown in growth is another factor that could be driving the euro and the yuan. This may be revealed by the data-packed days ahead.

A preliminary reading of U.S. economy growth for the first quarter is likely to indicate an annualized 1.1% increase, which will be a sharp decline from 6.9% in 2021’s fourth quarter.

This would mark the fastest pace since the COVID-19 panic.

Germany may have released preliminary inflation numbers that could reveal if there are signs of price pressures starting to subside in Europe’s largest economy.

The Euro, which is already unable to accept the expectation that the European Central Bank might raise its interest rates quickly rather than later, has not received any relief from concerns about a slowdown in the currency bloc.

The positive tech earnings are helping to ensure that stock markets don’t suffer too much. Meta (NASDAQ: Facebook) owner beat Wall Street profit predictions — Frankfurt-listed shares have risen almost 19% since an aftermarket surge.

These are the key developments expected to give more direction for markets Thursday

– StanChart profit beats estimates

Japan’s Factory Output Growth provides Relief

– German prelim CPI

Business climate and sentiment in Euro Zone

– Swedish Central Bank announces interest rate decision.

– US Q1 flash GDP, E index/initial jobless

Auction: US Treasury 7 Year Note

– Russia Central Bank Policy Meeting and Press Conference – Emerging Markets

– European earnings: Standard Chartered (OTC:),  Sabadell, Nokia (NYSE:), Volvo, Swedbank, Capgemini, Sanofi (NASDAQ:), Pernod Ricard (EPA:), Unilever, (NYSE:) Barclays (LON:), Carlsberg, (OTC:), Beirsdorf Nordea Thales Eni St James Place Whitbread (LON:),

US Earnings: Comcast (NASDAQ :), Mastercard(NYSE :), Elli Lilly Caterpillar (NYSE:), Merck, Northrup Grumann, Hershey, Southwest airlines, Lazard (NYSE:),  McDonalds, T Rowe Price (NASDAQ:), Domino’s Pizza, Amazon (NASDAQ:),  Apple (NASDAQ:), Intel (NASDAQ:)