January 29, 2018

FXPRIMUS, Important Economic News & Events of the week -Jan 29th to Feb 2nd-

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Dollar Weak Following Davos Statement, Fed and Jobs Report in Focus.

This article is originally referred from FXPrimus News.

FXPrimus has summarized the important market indicators of the week, January 29th to February 2nd.


EURO and STERLING rose for a 6th consecutive week against DOLLAR as comments from the US Administration added downward pressure on the weak currency in Davos last week.

US Stocks extended gains for another week reaching new all-time highs amid a weak greenback and a poor weekly closing following a disappointing US GDP print.

GOLD and OIL longest rallies also extended shadowing the strong majors while DOLLAR remained in decline.

This week starts on a light footing on the economic calendar but all eyes will turn to FOMC, the monthly NFP and Eurozone’s Inflation figures.

January 29th, Monday

US Consumer Spending data to provide a view of the overall economic activity.

No major events with large impact on the markets today.

The beginning of the week will be characterized by mild-impact US releases; Core PCE and Personal Spending due at 13:30 GMT.

January 30th, Tuesday

Eurozone GDP and US Consumer Spending in focus, markets eye Carney’ testimony.

Eurostat will release the preliminary GDP numbers in the Tuesday session at 10:00 GMT following the fastest year-on-year (YoY) growth rate since Q1 2011.

At 15:00 the Conference Board will publish the US Consumer Confidence data for the month of January and thirty minutes later BoE Gov Carney will speak before the House of Lords Economic Affairs Committee.

January 31st, Wednesday

Beleaguered US Dollar to dominate the session as FOMC, ADP and Trump’s speech weigh in.

The trading session will kick-off with the Australian CPI figures at 00:30 GMT and will be followed by the Chinese PMI.

European data will add to volatility from 07:00 onwards with highlight at 10:00 GMT, where the EU CPI will be released.

At 13:15 ADP will publish its monthly NFP data, at 13:30 Canada its monthly GDP and at 15:30 GMT EIA will release its weekly Oil Inventories.

The day will be marked by the FOMC statement and Fed’s Funds Rate at 19:00.

February 1st, Thursday

Chinese, EU, UK and US PMIs to provide clues on respective countries’ economies.

Few of the biggest economies will release their monthly Manufacturing PMI reports in the Thursday session as 01:45, 09:30 and 15:00 GMT respectively.

Europe will publish its own accounts between 08:15 and 09:00 with Spanish, Swiss, Italian, French, German and the European Final PMIs being in focus.

February 2nd, Friday

US jobs report on the spotlight, good data needed to support weak DOLLAR.

The closing of the week is likely to be il-liquid until the US releases the monthly NFP data at 13:30 GMT.

Apart this event, the trading session may provide some opportunities to investors earlier as volatility will be expected around the release of the UK Construction PMI at 09:30 GMT.

Original Source: FXPrimus News

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