Market participants are still analyzing last week’s US inflation data and the December jobs report, while economists predict the Fed will start cutting interest rates in March. Three cuts of 0.25% each are expected this year.
Meanwhile, the dollar lacks catalysts to break its downward trend since last November. Important macro statistics from Germany, the UK, Canada, China, Australia, and the US may offer some direction, but the World Economic Forum in Davos (January 15-19) could be the key event to watch.
Here’s a rundown of key economic events for the coming week:
Key events:
- World Economic Forum (WEF) in Davos (Switzerland): This event could bring important statements about the global economy and geopolitical situation, potentially impacting various markets.
- Macroeconomic data releases: Important data will be released from various countries, including Germany (inflation), UK (wages and unemployment), Canada (inflation), China (GDP, industrial production, retail sales), Australia (employment), and the US (retail sales and consumer confidence). This data can influence the respective currencies.
- ECB meeting minutes: The minutes from the ECB’s December meeting could offer clues about the future of monetary policy in Europe, impacting the euro.
Monday, January 15:
- No major events (US holiday).
Tuesday, January 16:
- 07:00 EUR: German Harmonized Index of Consumer Prices (HICP) (final release).
- 07:00 GBP: UK average wages and unemployment rate.
- 13:30 CAD: Canadian Consumer Price Indices.
Wednesday, January 17:
- 02:00 CNY: China’s GDP, industrial production, and retail sales.
- 07:00 GBP: UK Consumer Price Index and Core CPI.
- 13:30 USD: US Retail Sales and Retail Control Group.
Thursday, January 18:
- 00:30 AUD: Australian employment level and unemployment rate.
- 12:30 EUR: Account of the ECB meeting on monetary policy.
Friday, January 19:
- 07:00 GBP: UK Retail Sales.
- 15:00 USD: University of Michigan Consumer Confidence Index (preliminary release).
Categories: ARFX News
