Upside hopes for the GBP?
The British monthly GDP is announced on Friday at 09:00 MT time.
China's July factory gate inflation stands still, consumer prices dip
In July, China's annual producer price inflation was intact, with prices for major raw materials soaring moderately on expectations of deeper capacity dips going into the winter months of tough pollution. Meanwhile, consumer inflation decreased moderately.
From the previous year the producer price index inched up 5.5% the previous month, staying intact from June, as the National Bureau of Statistics told on Wednesday.
China's economy has demonstrated solid surge in 2017 as commodity prices revived, assisting to boost the industrial sector. At the same time mild consumer price gains have provided policymakers with enough room to maneuver if surge falters.
Experts surveyed by Reuters had hoped that producer prices would stand still for a third straight month, sticking to 5.5%.
The PPI edged up 0.2% in July on a month-on-month basis, following three months in the red, with the NBS associating this with an ascend in prices of commodities, such as steel as well as non-ferrous metals.
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Strong USD on Tuesday
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
Will the USD grow with the US labor market?
The US unemployment claims are out on Thursday at 15:30 MT time.
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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.
Markets await Biden to unveil "trillions dollars"
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.
USD came under selling pressure
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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