The Week Ahead: 23rd – 27th January 2023

Overview for the Week Ahead

The US dollar is eyeing a fresh low for the year as soft economic data and dovish comments from Federal Reserve officials suggest the central bank may be on the verge of slowing the pace of its rate hikes.

On Tuesday Apple launches its new MacBook Pro computers with upgraded internal chips.

Economic data to close the week will include personal income, personal consumption, University of Michigan consumer sentiment index and pending home sales.

Bitcoin continued its 2023 climb, jumping past $23,000 for the first time since August before retreating to trade at about $22,734 at 10.00 GMT+2.

In Europe, Lagarde said Friday that policy makers mustn’t let up in their battle against inflation even as the spike in consumer prices appears to have peaked. While headline inflation has eased, underlying price gains reached a record in December.

The euro may gain further this week should preliminarily Purchasing Managers Index data due Tuesday indicate the economy is expanding.

Have your trading charts ready!

This Week’s High Impact Events

The times below are GMT +2.

Monday 23rd January

  • 19.45 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses. 

Tuesday 24th January

  • 10.15 – Europe – Flash Manufacturing & Services PMI

Potential instruments to Trade: EUR Crosses. 

  • 11.30 – UK – Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: GBP Crosses. 

  • 16.45 – US – Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – Richmond Manufacturing Index

Potential instruments to Trade: USD Crosses. 

  • 23.45 – New Zealand – CPI q/q

Potential instruments to Trade: NZD Crosses. 

Wednesday 25th January

  • 02.30 – Australia – CPI q/q

Potential instruments to Trade: AUD Crosses. 

  • 11.00 – Europe – German ifo Business Climate

Potential instruments to Trade: EUR Crosses. 

  • 17.00 – Canada – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate

Potential instruments to Trade: CAD Crosses. 

  • 18.00 – Canada – BOC Press Conference

Potential instruments to Trade: CAD Crosses. 

Thursday 26th January

  • 15.30 – US – Advance GDP q/q

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – New Home Sales

Potential instruments to Trade: USD Crosses. 

Friday 27th January

  • 15.30 – US – Core PCE Price Index m/m

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – Pending Home Sales m/m, Revised UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses. 

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email support@errante.com.

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