ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Leap in German factory output indicates firm GDP surge in the third quarter
In August, German industrial output reported its biggest monthly ascend for more than six years, as Monday’s data disclosed.
As follows from this, the German economy is currently firing on all cylinders and it’s set for solid ascend in the third quarter. However, a question about the make up of the fresh government could generate uncertainty.
The combined output of construction, manufacturing as well as energy tacked on by 2.6% on the month having slumped by 0.1% in July, as data from the Economy Ministry revealed.
It turned to be the strongest monthly revenue since July 2011.It easily surpassed expectations in a Reuters survey for a 0.7% leap, confounding even the most optimistic forecast.
As for manufacturing output, it rallied by 3.2%, thus showing the greatest soar since March 2010. It’s because in August factories churned out more capital goods, intermediate goods as well as consumer goods.
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Market outlook for this week
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How to trade ahead and after BOC report?
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
Latest news
USD strengthened as optimism waned
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
Stocks up, USD down
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
Lots and lots of PMIs on Friday
PMI reports from the EU, the UK, and the USA will be released during the day!
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