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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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