The Week Ahead: 10th – 14th January 2022

Overview for the Week Ahead

In general, it is a quiet week.  Covid and the Omicron strain dominate the worldwide headlines once again. 

Inflation data will be in focus this week, with investors set to receive the Bureau of Labour Statistics’ (BLS) latest Consumer Price Index (CPI) as the Federal Reserve’s next monetary policy moves remain in focus. Quarterly earnings season also ramps up as some of the big banks report results.  

Market participants are bracing for another historically hot reading on inflation in the latest CPI data, due out on Wednesday. On a year-over-year basis, consumer prices likely surged by 7.1% in December, based on Bloomberg consensus data, accelerating even further from November’s 6.8% year-over-year clip. This would mark the fastest rate since 1982, when CPI rose as much as 8.4% on a year-over-year basis.  

And on a month-over-month basis, consumer prices likely rose by 0.4% in December, slowing from November’s 0.8% rise but still marking an eighteenth consecutive month of increases. 

For the UK, industrial and manufacturing production figures are due out on Friday along with GDP and trade data.   

Unemployment and industrial production figures for the Eurozone will be the key stats early in the week. On Friday, Eurozone trade data will also draw interest. 

Finalized member state inflation figures due out in the week should have a muted impact, however, barring any upward revisions. 

On the monetary policy front, the markets will be looking for any shift in ECB stance on inflation. ECB President Lagarde is scheduled to speak in the week. 

This Week’s High Impact Events 

The times below are GMT +2. 

Monday 10th January 

  • No High Impact Events 

Tuesday 11th January 

  • 17.00 – US – Fed Chair Powell Testifies 

Potential instruments to Trade: USD Crosses.  

Wednesday 12th January 

  • 15.30 – US – CPI & Core CPI m/m 

Potential instruments to Trade: USD Crosses.  

Thursday 13th January 

  • 15.30 – US – PPI, Core PPI, & Unemployment Claims 

Potential instruments to Trade: USD Crosses.  

  • 20.01 – US – 30 Year Bond Auction 

Potential instruments to Trade: USD Crosses.  

Friday 14th January 

  • 15.30 – US – Retail Sales & Core Retail Sales m/m 

Potential instruments to Trade: USD Crosses.  

From everyone at Errante, we wish you a Happy New Trading Year 2022!

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