Week's main events (January 30

This week promises to be volatile due to a lot of important events. The US Nonfarm Payrolls are the week's main event, as it is one of the most significant parameters for the Fed's monetary policy decision. Economists believe the labor market will add 193,000 jobs, slowing from 223,000 in January. Traders should pay special attention to the interest rate decision from the Bank of England, the ECB, and the US Fed. Economists predict a 0.25% Fed rate hike, while the Bank of England and the ECB will raise rates by 0.5% Traders should also pay special attention to the inflation data in Europe, where a slight decline is expected. Investors should also keep a close eye on the OPEC+ meeting, which greatly impacts oil pricing. Also, do not forget about the earning season in the United States. This week, companies such as Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (ex-Facebook), Alibaba (BABA), Exxon Mobil (XOM), Pfizer (PFE), AMD (AMD) and many others will report.

Monday, January 30

On Monday, traders will mainly focus on the German GDP data for the last quarter. The GDP data is expected to show that economic growth has slowed. Investors should also pay attention to the consumer price index in Spain, which is taken into account in the overall figure for the Eurozone.

Main events of the day:

– Switzerland KOF Leading Indicators (m/m) at 10:00 (GMT+2);
– Spanish Consumer Price Index (m/m) at 10:00 (GMT+2);
– Germany GDP (q/q) at 11:00 (GMT+2).

Tuesday, January 31

Tuesday will bring various statistics for many countries. The main event will be the decision of the central bank on the German Consumer Price Index and Eurozone GDP figures for the quarter. No surprises are expected, but volatility in currency pairs with the euro will increase.

Main events of the day:

– Japan Unemployment Rate (m/m) at 01:30 (GMT+2);
– Japan Retail Sales at 01:50 (GMT+2);
– Japan Industrial Production (m/m) at 01:50 (GMT+2);
– Australia Retail Sales (m/m) at 02:30 (GMT+2);
– China Manufacturing PMI (m/m) at 03:30 (GMT+2);
– China Non-Manufacturing PMI (m/m) at 03:30 (GMT+2);
– French GDP (q/q) at 08:30 (GMT+2);
– German Retail Sales (m/m) at 09:00 (GMT+2);
– French Consumer Price Index (m/m) at 09:45 (GMT+2);
– German Unemployment Rate (m/m) at 10:55 (GMT+2);
– Eurozone GDP (q/q) at 12:00 (GMT+2);
– German Consumer Price Index (m/m) at 15:00 (GMT+2);
– Canada GDP (q/q) at 15:30 (GMT+2);
– US Chicago PMI (m/m) at 16:45 (GMT+2);
– US CB Consumer Confidence (m/m) at 17:00 (GMT+2);
– New Zealand Unemployment Rate (q/q) at 23:45 (GMT+2).

Wednesday, February 01

The main event on Wednesday will be the Fed's monetary policy meeting. Analysts expect a 0.25% rate hike. Investors will also be closely watching Fed Chairman Jerome Powell's press conference following the meeting for signs when officials may consider pausing. Traders should also keep a close eye on inflation data for the Eurozone. Analysts expect to see a slight slowdown in inflation. The US Crude Oil Reserves data and OPEC+, which greatly impacts oil prices, should also be in focus. The volatility of WTI and BRENT prices could rise sharply. Traders should also pay attention to the Manufacturing PMI data from different countries.

Main events of the day:

– Japan Manufacturing PMI (m/m) at 02:00 (GMT+2);
– Spanish Manufacturing PMI (m/m) at 10:15 (GMT+2);
– Italian Manufacturing PMI (m/m) at 10:30 (GMT+2);
– Switzerland Manufacturing PMI (m/m) at 10:30 (GMT+2);
– French Manufacturing PMI (m/m) at 10:50 (GMT+2);
– German Manufacturing PMI (m/m) at 10:55 (GMT+2);
– Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2);
– UK Manufacturing PMI (m/m) at 11:30 (GMT+2);
– Eurozone Unemployment Rate (m/m) at 12:00 (GMT+2);
– Eurozone Consumer Price Index (m/m) at 12:00 (GMT+2);
– OPEC+ Meeting at 12:00 (GMT+2);
– US ADP Nonfarm Employment Change (m/m) at 15:15 (GMT+2);
– US JOLTs Job Openings (m/m) at 17:00 (GMT+2);
– US ISM Manufacturing PMI (m/m) at 17:00 (GMT+2);
– US Crude Oil Reserves (w/w) at 17:30 (GMT+2);
– US FOMC Statement at 21:00 (GMT+2);
– US Fed Interest Rate Decision at 21:00 (GMT+2);
– US FOMC Press Conference at 21:30 (GMT+2).

Thursday, February 02

On Thursday, traders will mainly focus on the Interest Rate Decisions from the Bank of England and ECB. According to preliminary data, the BOE is expected to hike rates by another 0.50% to curb inflation, while the ECB is also expected to raise the rate by 0.5%. Traders will also be closely watching the speech of ECB head Christine Lagarde on the next steps of Europe's central bank.

Main events of the day:

– UK BoE Inflation Report at 14:00 (GMT+2);
– UK BoE Interest Rate Decision at 14:00 (GMT+2);
– UK BoE Monetary Policy Statement at 14:00 (GMT+2);
– UK BoE Gov Bailey's Speech at 14:30 (GMT+2);
– Eurozone ECB Monetary Policy Statement at 15:15 (GMT+2);
– Eurozone ECB Interest Rate Decision at 15:15 (GMT+2);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
– Eurozone ECB Press Conference at 15:45 (GMT+2);
– Eurozone ECB President Lagarde Speaks at 17:15 (GMT+2);
– US Natural Gas Storage (w/w) at 17:30 (GMT+2);
– Switzerland SNB Chairman Jordan Speaks at 19:30 (GMT+2).

Friday, February 03

The most important Friday release is the US PCE Price Index (Personal Income and Spending), which is also on the Fed's list of inflation indicators. Japan will publish data on consumer prices in the Tokyo region, which traders will follow closely. It's a bank holiday in China.

Main events of the day:

– Japan Services PMI (m/m) at 02:30 (GMT+2);
– Eurozone Services PMI (m/m) at 11:00 (GMT+2);
– UK Services PMI (m/m) at 11:00 (GMT+2);
– Eurozone Producer Price Index (m/m) at 12:00 (GMT+2);
– US Nonfarm Payrolls (m/m) at 15:30 (GMT+2);
– US Unemployment Rate (m/m) at 15:30 (GMT+2);
– US ISM Services PMI (m/m) at 17:00 (GMT+2).

by JustMarkets, 2023.01.30

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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Week's main events (January 30– February 03)

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