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.
China’s first-quarter GDP ascends faster than expected
China's economy managed to rally 6.9% during the first quarter from the previous year, moderately faster than expected, backed by a government infrastructure spending spree as well as a frenzied housing market, demonstrating signs of overheating.
Financial experts surveyed by Reuters had expected the Chinese economy to surge 6.8% during the first quarter, showing the same pace as in the previous year’s fourth quarter.
First-quarter surge turned to be the fastest since the third quarter of 2015. March data revealed that investment, factory output, retail sales as well as exports all added faster than expected.
The sturdy reading will help to back wobbly global financial markets, though it will also add to concerns that China's authorities are still heavily relying on stimulus, not to mention old economy growth drivers. The government isn’t doing enough to cope with risks from an explosive build-up in debt.
While China's data has been mostly positive this year, a great number of analysts widely expect the world's number two economy to lose steam in the nearer future because the impact of earlier stimulus measures starts fading and local authorities step up their battle for the purpose of reining in hot housing prices.
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.
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The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.