Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Top events this week will bring us
5 important event to follow this week!
1. Canadian Trade Balance data (January 8, 15:30 MT time (13:30 GMT)). Trade balance data is important for the Canadian economy and the CAD. That’s why the release may strongly affect the direction of the Canadian dollar.
2. BOC Rate Statement – (January 9, 17:00 MT time (15:00 GMT)). The Bank of Canada is one of the most unpredictable central banks in its decisions. But as usual, the hawkish mood of the BOC will boost the CAD. In the case of the cautious tone, the loonie will decline.
3. BOE Governor Carney Speaks (January 9, 17:30 MT time (15:0 GMT)). Comments by members of central banks are always highly important, especially when they are from heads of the CBs. The UK has been coming to the end of the Brexit saga or not? Encouraging speech of Mr. Carney will support the GBP while dovish mood will pull the GBP down.
4. FOMC Meeting Minutes (January 9, 21:00 MT time (19:00 GMT)). The Fed raised the interest rate in December 2018, however, it didn’t boost the market sentiment. Traders worry about the slowdown in the rate hikes’ pace. If the release is more positive than anticipated, the USD will rise.
5. US CPI figures (January 11, 15:30 MT time (13:30 GMT)). CPI is one of the crucial economic data that is followed by traders all around the world. CPI and Core CPI figures will affect the direction of the US dollar. Everything is simple: if the actual data outperform the forecasts, the USD will rise. Vice versa, the US dollar will depreciate.
- The Parliament vote for the final Brexit deal was postponed from January 11 to January 15. Further postpones? MAY BE.
- Theresa May is going to chair a new cabinet committee (the EU exit and trade (preparedness) committee) that has been set up to take charge of the Brexit planning. Among other issues, it will cover planning for a no-deal Brexit.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.