The head of the Federal Reserve Jerome Powell will testify on the Semiannual Monetary Policy Report on Tuesday and Wednesday
5 important events this week will bring us!
- Rate statement by the Reserve bank of Australia (Tue, 7:30 MT (4:30 GMT time)) – Analysts anticipate a rate cut to 1%. The decision is already priced in. If the rate cut happens, the AUD will weaken. On the other hand, if the bank decides to keep the rate unchanged, the aussie may be supported.
- Canadian trade balance (Wed, 15:30 MT (12:30 GMT time)) – Higher-than-expected figures will be good for the Canadian currency.
- Australian retail sales (Thu, 4:30 MT (1:30 GMT time)) – According to the forecasts, the indicator will advance by 0.2%. If the actual level is higher, the CAD will go up.
- Canadian jobs data (Fri, 15:30 MT (12:30 GMT time)) – If the level of employment change is higher and the unemployment rate is lower than the forecasts, the loonie will rise.
- NFP (Fri, 15:30 MT (12:30 GMT time)) – Will NFP come out better than the previous release? Let's find out on Friday.
- During the meeting between the US president Donald Trump and Chinese President Xi Jinping, the leaders agreed to restart trade talks. The US president promised not to add more tariffs on Chinese goods.
- OPEC+ members agreed to extend oil production output cuts for 9 months.
The United States will publish the non-farm employment change, also known as non-farm payrolls (NFP) at 15:30 MT time on February 7.
The level of non-manufacturing PMI for the United States by the Institute of Supply Management will be published at 17:00 MT time on February 5.
The Federal Open Market Committee will publish its meeting minutes on February 19, at 21:00 MT time.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
Tesla stock drops in premarket trades on Thursday. Why? See the article (it's short) and use it to your advantage.