US Gov Shutdown Fears, ECB and BoJ in Focus.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important market indicators of the week!
THIS WEEK’S INDICATORS
EURO and STERLING had their 5th consecutive week of gains against DOLLAR last week while the latter remained under pressure on risk of a government shutdown.
US Stocks expanded gains for another week reaching fresh all-time highs as views on US economic outlook seems to suggest it will be outpaced by global growth.
GOLD and OIL longest rallies halted for the time being as investors took profits.
This week starts on a light footing on the economic calendar but all eyes will turn to ECB, BoJ interest rate decisions, and the UK and US GDP figures.
January 22nd, Monday
Markets watch the Canadian Wholesale Trade leading indicator of Consumer Spending.
No major events with large impact on the markets.
Markets are likely to move on technical developments with volatility expected to rise around the Canadian Wholesale Sales at 13:30 GMT.
January 23rd, Tuesday
No changes are expected to BoJ’s monetary policy, meeting ends Tuesday morning.
The Bank of Japan will publish the first bank decision of the week (apart ECB on Thursday) on Tuesday morning, an announcement that will heighten volatility; Investors will look forward to the press conference that follows as stimulus clues could be provided.
On Tuesday, the WEF meetings are due to start in Davos.
January 24th, Wednesday
UK monthly employment report in focus, Eurozone and US data to weigh in.
A busy day in Europe with Manufacturing and Service sector activity being on the spotlight from 08:00 GMT.
At 09:30 UK will report December’s Employment figures and later at 15:00, the US will publish December’s Home Sales.
Crude Stocks and the New Zealand’s CPI to follow at 15:30 and 21:45 respectively.
January 25th, Thursday
Major bank decision to add on to volatility, speculators expected a no-change.
Some European data are expected to set the tone from 08:00 GMT onwards while at 12:45 ECB will announce its interest rate decision and path towards winding down its bond purchases at the conference 45 minutes later.
At the same time, Statistics Canada will publish its November Retail Sales data and the US its weekly Unemployment Claims and later on its December new Home Sales.
January 26th, Friday
UK and US Growth data to mark the day, Canadian inflation and Speeches on the spotlight.
The closing of the week will be strong starting with the UK’s GDP figures at 09:30 GMT.
At 13:30, Canada and the US will release their CPI, and GDP and Durable Goods reports respectively.
The trading session will feature Carney and Kuroda’s Speeches at 14:00 in a panel discussion titled “Global Economic Outlook” at the World Economic Forum, in Davos.
Original Source: FXPrimus News