5 important events this week will bring us!

5 important events this week will bring us!

  • British CPI (Wed, 11:30 MT (9:30 GMT time)) – According to forecasts, the indicator of consumer inflation will reach 2.0%. Higher figures will be supportive for the British pound.
  • Canadian CPI (Wed, 15:30 MT (12:30 GMT time)) – Analysts anticipate the level of CPI for Canada to advance by 0.1%. If the actual figures are higher, the loonie will rise.
  • FOMC rate statement (Wed, 21:00 MT (18:00 GMT time)) – The Federal Open Market Committee will release its monetary policy statement and announce the official rate. No changes to the current interest rate are expected. However, as the worries about the rate cut keep circulating, the projections by the Fed on the future changes to its monetary policy will be in the main focus of traders.
  • The Monetary policy statement by the Bank of Japan (Thu, MT time morning hours) – If the most dovish central bank provides more hawkish comments this time, the JPY will go up.
  • The monetary policy summary by the Bank of England (Thu, 14:00 MT time) – The interest rate is expected to stay at the same level of 0.75%. We need to pay attention to the tone of the statement amid the political uncertainties.

Hot news:

  • According to US Commerce Secretary Wilbur Ross, there are low chances that the trade deal between the US and China will be reached during the meeting between US president Donald Trump and Chinese President Xi Jinping at G20 meeting in Osaka later this month.
  • Bitcoin has reached the last May’s highs on Monday. The oldest crypto has been trading near the $9,300 level. Analysts mention the anticipation of Litecoin’s halving and the introduction of Facebook crypto as the bullish news which driving the digital asset.
  • The crude oil futures have fallen down at the beginning of the week on the comments by the Saudi Energy Minister Khalid Al-Falih. He expressed hopes to extend output cuts by OPEC+ into the second part of the year.

Similar

USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Latest news

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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