The British monthly GDP is announced on Friday at 09:00 MT time.
All eyes on AUD
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Instruments to trade: AUD/USD, AUD/NZD, AUD/CHF, AUD/CAD
Australian Private Capital Expenditure is the sum of new long-term investments made by private businesses, which may include asset purchases as property, equipment, land, and software. This report is published only once in a quarter and tends to have a huge impact on the aussie. In fact, changes in the investment levels of businesses can help to predict how economic activity, hiring, spending, and earnings will change in the near future. The last report revealed the largest decline since the first quarter of 2016 and pushed the Australian dollar down. These days Australia is in a better position as it made the Asian-Pacific trade agreement, and its economy is recovering. Follow the report and keep an eye on the aussie!
- If the capital expenditure comes out better than the forecasts, the AUD will rise.
- If the report is worse than expected – the AUD will fall.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
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.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.