This week’s economic docket is relatively light, likely making financial markets remain steady. This article will present our preview on the economic docket during the period from Jan 08 to Jan 12, targeting the prospect of major financial assets.
Monday – 01/08/2018
Monday brings Canada’s BOC Business Outlook Survey at 4:30 GMT. We suggest watching this survey’s report carefully because the Canadian Dollar may trade higher versus its G10 FX counterparts give an optimistic outcome. Conversely, traders can look to enter bearish positions on the CAD – currencies.
Tuesday – 01/09/2018
Australia’s Building Approvals will be announced at 1:30 GMT on this Tuesday. Economists forecast the figure to strongly plunge to -0.9% from its November level of 0.9%, therefore, the Australian Dollar could possibly collapse should the release be worse than expected.
Wednesday - 01/10/2018
U.K. Manufacturing Production is going to come in at 10:30 GMT on Wednesday this week, predicted to advance to 0.3% from the previous announcement of 0.1%. The British Pound may benefit from this release.
U.S. Crude Oil Inventories will also print at 16:30 GMT on the same day. Oil prices may ascend if the data drops lower than the last report of -7.4M.
Thursday - 01/11/2018
Australia’s Retail Sales is going to be published at 1:30 GMT on Thursday with analysts’ anticipation that the figure will decrease to 0.4% from the prior reading of 0.5%. The Aussie could be pushed lower given a worse-than-forecasted announcement.
Thursday’s New York trading session will witness U.S. PPI come in at 14:30 GMT. The US Dollar’s ongoing deterioration is likely to be aggravated because the rate is calculated to decline to 0.2% from the previous release of 0.4%. Traders can watch to open bearish orders on the USD – currency pairs whose bearish momentum is prevailing such as the Greenback – Loonie.
Friday - 01/12/2018
Friday this week brings four U.S. important economic data releases, all come in at 14:30 GMT. First, the CPI data will be divulged, foreseen to descend by 0.2% compared to its last outcome of 0.4%. Secondly, the Core CPI rate is expected to increase to 0.2% from 0.1%. Thirdly, Core Retail Sales is forecasted to strongly decline to 0.4% from its past reading of 1.0%. Finally, U.S. Retail Sales data is calculated to fall to 0.5% from its November level of 0.8%. From a broad perspective, we advise traders to position bearish orders on the Greenback, since the short-term prospect of the USD is clearly faltering.