Upside hopes for the GBP?
The British monthly GDP is announced on Friday at 09:00 MT time.
5 important events this week will bring us!
- US retail sales and core retail sales (Tue, 15:30 MT (12:30 GMT time)) – According to analysts, both headline and core retail sales will advance by 0.1%. Higher figures will boost the USD.
- Speech by the Fed Chair Jerome Powell (Tue, 20:00 MT (17:00 GMT time)) – If Mr. Powell provides supportive comments for the USD this time, the US dollar will go up.
- British CPI (Wed, 11:30 MT (8:30 GMT time)) – The indicator is expected to increase by 2%. If the actual release outperforms the forecasts, the GBP will rise.
- Australian jobs data (Thu, 4:30 MT (1:30 GMT time)) – Analysts anticipate the slowdown in the employment change (from +42.3K last time to +9.1K) and the stable level of the unemployment rate at 5.2%. If the actual figures of employment change are higher and the unemployment rate is lower than the forecasts, the Australian dollar will move up.
- Canadian core retail sales (Fri, 15:30 MT (12:30 GMT time)) – The indicator is forecast to increase by 0.3%. Greater figures will be positive for the loonie.
Hot news:
- After the release of Chinese GDP growth showed the slowdown, reaching only 6.2%, US President Donald Trump tweeted that China wants to make a trade deal soon.
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Strong USD on Tuesday
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
Will the USD grow with the US labor market?
The US unemployment claims are out on Thursday at 15:30 MT time.
Latest news
ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Markets await Biden to unveil "trillions dollars"
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
USD came under selling pressure
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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