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This article is originally referred from JustForex News.
Today, JustForex’s team of financial analysts has prepared a new review of events in the upcoming week.
These events can significantly affect the Forex market.
Choose and track the ones that are most important to you.
The US dollar continued to lose grounds relative to the major currencies. The dollar index (#DX) closed the trading week in the negative zone (-1.65%). Pressure on the American currency is put by weak statistical data. The ECB kept interest rates at the same level. The regulator noted positive changes in the economy.
In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.
January 29th, Monday
On Monday, the attention of financial market participants will be focused on the statistics on personal income and spending in the US at 15:30 (GMT+2:00).
At 23:45 (GMT+2:00) the data on the trade balance of New Zealand will be released.
January 30th, Tuesday
On Tuesday, we expect important economic reports:
- The household spending index in Japan at 01:30 (GMT+2:00);
- The volume of retail sales in Japan at 01:50 (GMT+2:00);
- The consumer confidence index in the US at 17:00 (GMT+2:00).
We recommend paying attention to the speech of the head of the Bank of England Carney.
January 31st, Wednesday
On Wednesday, the news background will be very eventful.
The key event will be the Fed’s meeting at 21:00 (GMT+2:00).
It is expected that the regulator will leave the key interest rate at the previous level of 1.50%.
We recommend you to pay attention to the comments and rhetoric of the Central Bank representatives.
Important economic reports:
- The consumer price index of Australia at 02:30 (GMT+2:00);
- The data on business activity in the manufacturing sector of China at 03:00 (GMT+2:00);
- The satistics on the labor market of Germany at 10:55 (GMT+2:00);
- The report on inflation in the Eurozone at 12:00 (GMT+2:00);
- The preliminary statistics on the labor market in the US from ADP at 15:15 (GMT+2:00);
- The data on GDP of Canada at 15:30 (GMT+2:00);
- The index of pending sales in the US real estate market at 17:00 (GMT+2:00).
February 1st, Thursday
On Thursday, we expect publication of important statistical data:
- The index of business activity in the manufacturing sector of China from Caixin at 03:45 (GMT+2:00);
- The data on business activity in the manufacturing sector of Germany and the UK at 10:55 (GMT+2:00) and 11:30 (GMT+2:00), respectively;
- The index of business activity in the manufacturing sector of the US from ISM at 17:00 (GMT+2:00).
February 2nd, Friday
On Friday, the attention of financial market participants will be focused on the report on the labor market of the US at 15:30 (GMT+2:00).
Experts expect an improvement in the key figures.
We also recommend you to pay attention to the data on business activity in the construction sector of the UK at 11:30 (GMT+2:00).
Original Source: JustForex News