Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

WEEKLY OUTLOOK 16.01.2023 - 20.01.2023



The US Bureau of Labor Statistics released on Friday the Nonfarm Payrolls data which came well above markets expectations at 223k. Following these data releases, the US Dollar struggled to find demand at the beginning of the week with the US Dollar Index declining towards multi-months lows around 103.40.
Fed Chairman Jerome Powell and his counterparts from Canada and Japan spoke at a symposium on Tuesday about central bank independence but gave no fresh clues about monetary policies.
EUR and GBP both gained on Thursday while the US Dollar had a hard time finding demand after The US Bureau of Labor Statistics announced that the annual Consumer Price Index declined to 6.5% in December from 7.1% in November.
In the following week China will release on Tuesday it’s GDP growth rate of 2022 while later in the day Statistics Canada will announce the yearly inflation rate with predictions stating that it will be better than the previous one.
The Bank of Japan Governor Haruhiko Kuroda said in a speech delivered to a meeting of a business lobby that last week’s decision to widen the allowance band around its yield target was "absolutely not a first step" towards an exit from ultra-loose monetary policy, but a move to "continue the implementation of a sustainable monetary easing". BOJ is expected to leave Interest rate unchanged on Wednesday. The Producer Price Index for final demand in the US will be released as well on Wednesday with the forecast showing a decline at -0.1%.
The week will close without any high impact news. ECB President Christine Lagarde will participate in a panel discussion titled "Global Economic Outlook” on Friday while FOMC Member Waller later that day will address the Council of Foreign Relations.


Monday 16 January

Time CET

Cur.

Event

Forecast

Previous

10:00

EUR

German ZEW Economic Sentiment (Jan)

-15.5

-23.3


Tuesday 17 January

Time CET

Cur.

Event

Forecast

Previous

02:00

CNY

GDP q/y

1.8%

3.9%

07:00

GBP

Average Earnings Index +Bonus (Nov)

6.1%

6.1%

07:00

GBP

Claimant Count Change (Dec)

30.5

07:00

GBP

CPI (YoY) (Dec)

10.7%

10:00

EUR

German ZEW Economic Sentiment (Jan)

-15.0

-23.3

15:30

CAD

Trimmed CPI y/y

5.3%


Wednesday 18 January

Time CET

Cur.

Event

Forecast

Previous

07:00

GBP

CPI (YoY) (Dec)

10.6%

10.7&

10:00

EUR

CPI (YoY) (Dec)

9.2%

9.2%

13:30

USD

Core Retail Sales (MoM) (Dec)

-0.4%

-0.2%

13:30

USD

PPI (MoM) (Dec)

0.1%

0.3%

13:30

USD

Retail Sales (MoM) (Dec)

-0.8%

-0.6%


Thursday 19 January

Time CET

Val.

Event

Forecast

Previous

00:30

AUD

Employment Change (Dec)

0.4%

-0.4%

12:30

EUR

ECB President Lagarde Speaks

15:30

USD

Unemployment Claims

214K

205K


Friday 20 January

Time CET

Cur.

Event

Forecast

Previous

07:00

GBP

Retail Sales m/m

0.4%

-0.3%

07:00

EUR

German PPI (MoM) (Dec)

-1.2%

-3.9%

13:30

CAD

Core Retail Sales m/m

1.7%







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