The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
British consumer spending faces the longest dip since 2013
In July, British consumer spending went down for the third month in a row, proceeding with its longest losing streak in more than four years, as Monday’s data states. That’s another sign that the impact of the previous year's Brexit vote is starting to affect households.
The engine of the British economy, consumer spending sank by 0.8% in real terms the previous month compared with July last year, as payments company Visa states.
It was quicker than June's 0.2% sag, and following May’s further sink, it marks the longest consecutive tumble since February 2013, when the British economy was trying to revive from the financial meltdown.
The previous week the Bank of England dared to downgrade its prediction for economic surge this year and 2018, because of slower-than-expected wage leaps. The key bank sees a weaker outlook for household spending compared to other sectors of the British economy.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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.
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.
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.
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.