The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
Euro zone inflation drops less than expected
In June, euro zone inflation went down, following more moderate energy price leaps, but the slowdown appeared to be less than expected by financial markets and the core measure of price surge the ECB keenly watches inched up more than expected.
According to the European Union's statistics office Eurostat, consumer prices in the 19 countries, sharing the common currency, tacked on 1.3% year-on-year in June, sliding from 1.4% in May and also 1.9% in April.
However, economists surveyed by Reuters had expected a much steeper sag to 1.2%. Additionally, they also expected inflation excluding energy and unprocessed food at 1%, the same outcome as in May.
In reality, in June core inflation surged to 1.2%, according to Eurostat data.
Meanwhile, the ECB is eager to keep headline inflation below, although close to 2% target over the medium term. Moreover, the EU’s key bank has been purchasing billions of euros worth of government bonds on the secondary market for the purpose of injecting cash into the economy and spurring faster surge.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
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.