The ECB Monetary Policy Meeting Accounts will be released at 14:30 MT on January 16
Fed Meeting & Press Conference
|The Federal Reserve raised interest rates during its last two December meetings – in 2015 and 2016. This December should be no exception to this trend. The US central bank has been preparing the market for this move for a while.|
|The last time the Fed changed the federal funds rate was in June 2017. That time it raised the rate to 1.25%. The odds of another rate hike in December exceed 90%.|
|The rate statement at 21:00 MT time will be followed by a press conference at 21:30 MT time. The US dollar will likely stay volatile during these events in all currency pairs, especially in USD/JPY and EUR/USD.|
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 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.