The ECB Monetary Policy Meeting Accounts will be released at 14:30 MT on January 16
Daily News: Thursday, January 18
A lot of important events happened in the economic world, do not miss them!
- Reports of the Australian labor market in December 2017 were delivered at night on January 18. Data were mixed with a positive and negative index that affected currency rate in a mixed way. Aussie is falling and rising from yesterday evening.
- USD/CAD. On Wednesday the BOC increased the Interest Rate as it was forecast. Despite expectations of the rate increase, no one knew exactly how to trade, so it affected the unclear situation on the market. On a daily chart, we can see a long legged doji, that confirms changes in market direction.
- EUR/USD. The euro is falling on Thursday. The greenback managed to stabilize despite a synchronized global recovery and claims of central banks to start a tight policy.
- Another weakness. Sterling is falling because of data that shows softening U.K. inflation in December. However, it is still close to its highest level since the Brexit vote.
- China delivered GDP report where the actual number in 0.1 percentage point is higher than the forecast. More hawkish numbers than expected are always good for the currency, so CNY is expected to rise.
- Bitcoin fail. Bitcoin fell below $10,000 that is the half of its peak. South Korean and Chinese announcements about the ban of cryptocurrency trading crashed down Bitcoin.
- The USA is at a loss. China’s holding of US treasuries fell to the lowest in four months.
- But there is better news for the US. White House is going to pass a stopgap bill to keep government funded.
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
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The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
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