The ECB Monetary Policy Meeting Accounts will be released at 14:30 MT on January 16
China's retail sales surge dives to 16-year minimum
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates.
Clothing sales headed south for the first time since 2009, dropping a hint that Chinese consumers were getting more worried about the Chinese even before an American tariff lift on Friday increased stress on China’s struggling exporters.
In April, total retail sales headed north by up to 7.2% from 2018, which is the slowest tempo since May 2003, as data from the National Bureau of Statistics revealed. The given outcome it undershot March's reading of 8.7% as well as estimates of 8.6%.
According to the data, customers were currently starting to cut back spending on everyday products, in particular, cosmetics and personal care, while proceeding with shunning more costly items such as vehicles.
In general, Chinese data for April mostly indicated a loss of momentum, following shockingly positive March results had backed hopes that the Chinese economy was gradually getting back onto firmer footing and would need less policy support.
In April, surge in industrial output speeded down more than anticipated to 5.4% on-year, rebounding from a 4-1/2-year maximum of 8.5% in March that some experts had thought was driven by seasonal as well as temporary factors.
Experts had predicted output would tack on by 6.5%.
Motor vehicle output dived by 16% as demand decreased, with sedan output heading south by about 18.8% that appears to be the steepest dive since September 2015. This week industry data disclosed that car sales went down by 14.6% in April, which happens to be the 10th losing month in a row.
We expect the US-China phase one trade deal to be signed on Wednesday and multiple important indicators for the USD. Plus, it is the first week of the earnings reports
The British yearly CPI will be released at 11:30 MT on January 15
You are still in doubt whether it makes sense to trade stocks? Watch this.
The recent Chinese figures bring optimism
On Thursday, January 16 two central banks: the Reserve bank of South Africa and the Turkish Central Bank will make their interest rate decisions.