Jump in to know the key market events and trading ideas for this week!
5 important things this week will bring us!
5 important things you need to know about this week!
RBA Rate Statement (Tue, 07:30 MT time) – a change of the interest rate isn’t anticipated. But the RBA statement will create moves on the market.
BOC Rate Statement (Wed, 17:00 MT time) – the CB doesn’t plan to change the interest rate but clues on the monetary policy will be important for the CAD.
US ISM Non-Manufacturing PMI (Thu, 17:00 MT time) – data based on responses of purchasing managers will determine the direction of the USD.
CAD Jobs data (Fri, 15:30 MT time) – jobs data are always highly important for the currency. If the actual figures are greater than the forecast, the CAD will go up.
US Jobs data (Fri, 15:30 MT time) – data of three important jobs indicators will be out. Be ready for high volatility on markets.
The NAFTA deal is still unsolved. Mr. Trump twitted that there is no political necessity to keep Canada in the new NAFTA deal. If parties don’t come to a fair agreement, Canada will be out. The NAFTA negotiations will keep affecting the CAD this week.
Brexit. Possibilities of no-deal. On weekends, the Brexit secretary Mr. Raab said that he is sure about the Brexit deal but still has a plan in case of no-deal. Theresa May said that she won’t let the second referendum happen and won’t surrender. The EU negotiator Mr. Barnier said that he is strongly opposed to the UK proposals and advised manufacturers of European cars to use less British-made parts after Brexit.
Let’s see whether there is more news this week.
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.