The report on durable goods orders in the US will be the key event for next Monday. Monthly growth of 1.6% is expected, however, a positive surprise is probably priced in, so a market reaction should be expected only in case of a negative surprise.

On Tuesday, the Japanese yen may be sensitive to the Bank of Japan's monetary policy report. The signal about retaining of the current pace of asset purchases won’t probably impress USDJPY, however, if the central bank hints at less stimulus in the future, the pair may accelerate its decline towards the level of 107.

On Wednesday, the Fed will make update on monetary policy. As no rate hikes are insight till 2023, markets will be primarily interested in the path of asset purchases. Taking into account the tax initiatives of the White House administration, the Fed has more reasons to maintain the easing bias in monetary policy, so there is a risk that the meeting outcome will be USD negative.

On Thursday, markets will be awaiting data on US jobless claims and German unemployment. Judging by the EU PMI data and momentum in US labor market there is a risk of upside surprise in the data, which will support the theme of global recovery in the markets.

Eurozone CPI and China Manufacturing PMI will be the main reports on next Friday and are also likely to indicate continued economic momentum in April.

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