
The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
Instruments to trade: USD/JPY, CAD/JPY, AUD/JPY
Coronavirus pushes to recession countries one by one. This time it gets to Japan, known as one of the world’s hardest working nation.
As coronavirus cases surged in the country, Prime Minister Shinzo Abe declared the state of emergency in the largest population centers that make up almost 50% of GDP, according to Bloomberg.
In fact, the lockdown isn’t as strict in Japan as in other countries today, it’s just a request to stay at home and close businesses, not an order. So, perhaps the downturn of economic activity won’t be so extreme. However, according to Japan economists, people will take it seriously this time.
Moreover, Japan Prime Minister will rescue the country’s economy by almost 1 trillion US dollars stimulus package equal to 20% of Japan's economic output. It’s more than double the amount Japan spent following the crisis in 2008.
Many economists believe that Japan has already fallen into recession because of export declines, supply-chain disruptions and travel bans. There are fears that economy is going to shrink close to 20% in a lockdown.
As we could notice, if coronavirus cases rise, the stock market volatility rises too. As a result, Japanese yen may lose its safe-heaven status.
The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
Before Joe Biden sat face-to-face with Xi Jinping on Monday night at a seaside resort in Bali, US officials played down hopes for tangible progress. The outcome easily exceeded those low expectations.
This week starts with the news from China, the first US election results, and fresh speculations over the crypto market and the FTX scandal. Let's have a closer look at the headlines.
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.
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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