New review of events in the upcoming week
On Friday, the United States published fairly optimistic statistics on the labor market, which caused an increase in demand for the US currency.
In December, the growth in average hourly wages increased from 0.2% (m/m) to 0.4% (m/m).
In the nonfarm sector of the country, 312,000 new jobs were created, which is significantly higher than the forecasted value of 178,000.
At the same time, the unemployment rate rose from 3.7% to 3.9%.
Financial markets participants expect the Bank of Canada meeting and the last FOMC meeting minutes.
In the upcoming trading week, we recommend paying attention to the following macroeconomic events.
Tuesday, January 8th
On Tuesday, the news feed will be fairly calm:
- JOLTS job openings at 17:00 (GMT+2:00).
Wednesday, January 9th
On Wednesday, the Bank of Canada will announce its decision on a key interest rate at 17:00 (GMT+2:00).
It is expected that the regulator will keep the key marks of monetary policy at the same level.
At 21:00 (GMT+2:00) the FOMC minutes will be published.
We recommend paying attention to the comments by the Fed representatives regarding the further monetary policy tightening.
Thursday, January 10th
On Thursday, the ECB will publish the account of the last monetary policy meeting at 14:30 (GMT+2:00).
We also recommend paying attention to statistics on the real estate market in the United States.
Friday, January 11th
On Friday, the trading week will end with the publication of important economic reports:
- The volume of retail sales in Australia at 02:30 (GMT+2:00);
- UK GDP data at 11:30 (GMT+2:00);
- UK manufacturing production at 11:30 (GMT+2:00);
- Report on inflation in the US at 15:30 (GMT+2:00).