The ECB Monetary Policy Meeting Accounts will be released at 14:30 MT on January 16
5 important events this week will bring us!
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
We expect the US-China phase one trade deal to be signed on Wednesday and multiple important indicators for the USD. Plus, it is the first week of the earnings reports
The British yearly CPI will be released at 11:30 MT on January 15
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The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
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