UK: Weekly FX Market Update 12 January
GBP
Sterling slipped lower during quiet trading last week.
Bank of England MPC members Taylor and Ramsden will have their say on monetary policy on Wednesday.
Will UK GDP, released this Thursday, show faster growth with the budget now behind us?
EUR
As the US continued to talk about possibly annexing Greenland, the Euro slipped lower.
Could Eurozone Sentix Investor Confidence on Monday show concerns about changes in the geopolitical arena?
Will Eurozone trade balance data, released this Thursday, show the economy humming along nicely?
USD
Last Friday’s employment data showed a lower unemployment rate at 4.4%, from 4.6%, but a weaker headline number of only 50K new jobs rather than 64k for December.
The Financial Times reports that The Department of Justice has subpoenaed Fed Chair Powell and threatened him with criminal prosecution. Powell has rebutted the allegations and stated that the case is nothing but an attack on the Fed’s independence. Will investors take this development in their stride, or will US assets start to see investor selling?
US CPI is released on Tuesday. Will it jump higher after last months data lacked accounting for rent inflation?
Main events for this week:
Mon Jan 12
09:30 EUR Sentix Investor Confidence
17:45 USD FOMC Barkin Speaks
Tue Jan 13
00:01 GBP BRC Retail Sales
13:30 USD CPI
15:00 USD FOMC Musalem Speaks
Wed Jan 14
08:00 GBP MPC Taylor Speaks
13:30 USD Retail Sales/PPI
14:50 USD FOMC Paulson Speaks
15:30 GBP MPC Ramsden Speaks
17:00 FOMC Kashkari Speaks
Thu Jan 15
07:00 GBP GDP/Industrial & Manufacturing Production
10;00 EUR Trade Balance/Industrial Production
13:30 USD Unemployment Claims
13:35 USD FOMC Bostic Speaks
17:40 FOMC Barkin Speaks
Fri Jan 16
14:15 USD Industrial Production
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