The British monthly GDP is announced on Friday at 09:00 MT time.
Pay attention to the important release for Canada
Canada will publish the level of core retail sales on June 21, at 15:30 MT.
The indicator represents the change in the total value of sales at the retail level (excluding automobiles). Last time, it came out higher than the expectations. The indicator increased by 1.7% (vs. the forecast of 0.8%). As a result, the loonie was boosted by the release. This time, we will see core retail sales to advance by 0.6%, according to analysts. Will the indicator outperform the forecasts?
• If the actual level of core retail sales is higher than the forecasts, the CAD will rise;
• If the actual level of core retail sales is lower than the forecasts, the CAD will fall.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.