ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
China GDP surge tops expectations
On Monday, China surge data managed to surpass expectations.
The country’s GDP for the second quarter inched up 6.9% year-on-year, and surge in the second quarter was 1.7%.
As for fixed asset investment, it grew too, with leaps from January to June of 8.6% on year, surpassing expectations. Additionally, property investment jumped 8.5% during the first half of 2017. Retail sales gained too, adding 11% in June from 2016. In non-rural areas fixed-asset investment grew 8.6% in the first half of 2017.
In June, value-added industrial output grew by 7.6%. A proxy for economic surge, the ascend turned to be higher than the 6.5% posted in May, as the National Bureau of Statistics informed. Month-on-month, industrial productions inched up 0.81% in June, which is 0.3% higher than in May.
China's surge target for the year is approximately 6.5%, unlike the 6.7% objective for last year, which surge showed its lowest outcome for 26 years.
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How to trade ahead and after BOC report?
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.
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USD strengthened as optimism waned
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
Stocks up, USD down
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
Lots and lots of PMIs on Friday
PMI reports from the EU, the UK, and the USA will be released during the day!
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