5 important events this week will bring us!

5 important events this week will bring us!

  1. Canadian CPI (Wed, 15:30 MT (12:30 GMT) time) – According to forecasts, the indicator will advance by 0.1%. Higher figures will be appreciated by the CAD bulls.
  2. FOMC Meeting minutes (Wed, 21:00 MT (19:00 GMT) time) – We will wait for the release, as look for more hints regarding the future rate decisions by the Fed. In case of more hawkish hints, the USD will be supported.
  3. New Zealand’s retail sales (Fri, 1:45 MT (22:45 GMT) time) – We anticipate the level of retail sales to increase by 0.1%. If the actual figures are higher, the NZD will rise.
  4. Canadian core retail sales (Fri, 15:30 MT (12:30 GMT) time) – The indicator is expected to decline by 0.1%. Higher figures will be positive for the CAD.
  5. Speech by the Fed Chair Powell (Fri, 17:00 MT (14:00 GMT) time) – If the Fed Chair sounds hawkish, the USD will go up.

Hot news:

  • The US plans to postpone restrictions that the Trump administration has imposed on China’s Huawei Technologies Co. It increased the risk-on sentiment in the markets.
  • Oil prices jumped on the news that Saudi Arabian oil field was attacked by the drone.  
  • On the Brexit front, the government preparations to the no-deal Brexit were leaked. As a result, Jeremy Corbyn plans to bring opposition parties together next week to discuss the prevention of a no-deal Brexit.

Similar

Strong USD on Tuesday
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.

Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
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. 

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