The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
Will the GDP growth strengthen the EUR?
The Euro Area will publish the GDP growth on Tuesday, at 12:00 MT time.
Instruments to trade: EUR/USD, EUR/JPY, EUR/CHF
This is the leading indicator of the economic activity of a region. As it measures the value of all products and services produced by an economy, it plays a significant role in the assessment of economic activity. A higher GDP indicates good conditions of the economy and increases the investment attractiveness of domestic currency. After the rise of 0.1% in the previous period, analysts expect the GDP growth to fall by -3.8% in the first quarter.
- If the actual level of GDP is higher than the forecasts, the EUR will rise;
- If the actual level of GDP is lower than the forecasts, the EUR will fall.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.