There will be a considerably heavier news schedule this week, compared to last week which was very light. After a slow start, the week is likely to be dominated by several central bank actions starting on Wednesday and following through into Thursday. Data will be mainly from the U.S.A. and Canada, with Friday also having a full agenda of releases including of course the inauguration of the new President.
Monday is a public holiday in the U.S.A.
The market is likely to be most active from Wednesday through to Friday.
U.S. Dollar
It will be an active week for the greenback after Monday’s public holiday, beginning on Wednesday, with the release of CPI data and a minor speech by the Chair of the Federal Reserve. Thursday will see the release of Building Permits, Unemployment Claims, and the Philly Fed Manufacturing Index numbers, as well as Crude Oil Inventories. Finally, on Friday we will have another minor speech by the Chair of the Fed followed later by the inauguration of the new President.
Chinese Yuan
It will be an important week for the Yuan, focused on Friday with the release of GDP and Industrial Production data.
Euro
It will be an important week for the Euro, focused on Thursday with the release of the Minimum Bid Rate followed by the usual press conference hosted by the European Central Bank.
Canada
It will be an important week for the Loonie, starting on Wednesday with the release of the Bank of Canada’s Monetary Policy Report, Rate Statement and Overnight Rate, followed by the usual press conference. Thursday sees the release of Manufacturing Sales data. Finally, Friday will see CPI and Core Retail Sales data.
British Pound
It will be a busy week for the Pound, beginning on Monday with a minor speech by the Governor of the Bank of England. Tuesday will see the release of CPI data and an important speech by the Prime Minister on the topic of Brexit. On Wednesday, we will get the Average Earnings Index and the Claimant Count Change. Finally, on Friday there will be a release of Retail Sales data.
Australian Dollar
It will be a quiet week for the Aussie, with nothing scheduled except a release of Employment Change and Unemployment Rate data due on Thursday.
New Zealand Dollar
It will be a quiet week for the Kiwi, with nothing scheduled except a release of GDT Price Index data due on Tuesday.