The ECB Monetary Policy Meeting Accounts will be released at 14:30 MT on January 16
The Canadian dollar may move higher
The level of GDP for Canada is going to be released at 15:30 MT time.
As you may know, the GDP growth is the broadest measure of economic activity of a country. Last time it increased by the higher-than-expected level of 0.3%. It made the CAD bulls excited and pushed the loonie higher. If this time it happens again, we can anticipate the rise of the Canadian currency.
• If the GDP is higher than expected, the CAD will rise;
• If the GDP is lower than expected, the CAD will fall.
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.