The Week Ahead: 18th – 22nd January 2021

Overview for the Week Ahead 

Asian shares were mostly lower Monday as last week’s bullish sentiment showed signs of slowing down. Japanese markets were down by almost 1%.  

Trading across other emerging Asian stocks markets remained subdued despite a better-than-expected economic reading from China, the region’s largest trade partner, as weaker U.S. retail sales and rising global coronavirus cases kept investors cautious. 

Australian shares ended lower on Monday, as the emergence of a fresh COVID-19 cluster in the state of New South Wales and news that the country may not fully reopen its international borders this year despite the vaccination drive dented sentiment. 

A big theme that most traders will likely be watching ahead this coming week is what happens with the US fiscal policy as Joe Biden prepares to be sworn in as the 46th US president. Some investors consider that some of the losses in equities last week may have been as a result of investors’ pricing in a slimmer than expected version of Biden’s USD 1.9 trillion relief package. 

The week ahead is also quite busy, with earnings season in play: companies like Bank of America, Morgan Stanley, Netflix and Intel are reporting. Soft results from Wells Fargo and JP Morgan this past week may foreshadow another round of dismal figures for bank companies ahead. 

The Euro, Japanese Yen and Canadian Dollar are eyeing the ECB, BoJ and BoC respectively. Chinese fourth-quarter GDP will have key insights into the state of global growth. Will a jobs report bring about volatility in Australian Dollar? Europe is going to update economic sentiment indicators. What else is to be expected for financial markets ahead? 

This Week’s High Impact Events

The times below are GMT+2. 

Monday 18th January 

Potential instruments to Trade: NZD Crosses.  

Tuesday 19th January 

Potential instruments to Trade: EUR Crosses.  

Wednesday 20th January  

  • 17.00 – Canada: BoC Interest Rate Decision 

Potential instruments to Trade: CAD Crosses. 

  • 18.00 – Canada: BoC Monetary Policy Report Press Conference 

Potential instruments to Trade: CAD Crosses.  

Potential instruments to Trade: GBP Crosses.  

Thursday 21st January 

  • ALL DAY – EU Leaders Summit  

Potential instruments to Trade: EUR Crosses.  

  • 02.30 – Australia: Employment Change  

Potential instruments to Trade: AUD Crosses.  

  • 04.30 – Japan: BoJ Interest Rate Decision 

Potential instruments to Trade: JPY Crosses. 

  • 14.45 – EUECB Interest Rate Decision 

Potential instruments to Trade: EUR Crosses. 

  • 15.30 – US: Building Permits 

Potential instruments to Trade: USD Crosses. 

  • 15.30 – EU: ECB Monetary Policy Press Conference 

Potential instruments to Trade: EUR Crosses.  

Friday 22nd January 

  • 9.00 – UK: Retail Sales  

Potential instruments to Trade: GBP Crosses.  

  • 15.30 – Canada: Retail Sales 

Potential instruments to Trade: CAD Crosses.  

  • 17.00 – US: Existing Home Sales 

Potential instruments to Trade: USD Crosses. 

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