The macroeconomic calendar is bustling, and the currency market will be more active.

USD: a wealth of statistical data

USD: a wealth of statistical data

The US will release a plethora of interesting reports, including noteworthy consumer inflation data for January and information on the retail sales index and industrial production parameters. These statistics will offer a clearer insight into the state of the economy. If the data is robust, the USD may decline.

GBP: reliance on statistics needed

GBP: reliance on statistics needed

The UK is gearing up to publish January’s pricing data, namely the official consumer price calculation and producer purchasing price index. Additionally, GDP estimates for the last quarter will be released, with indicators forecasted to be relatively weak. Without support from statistics, the GBP is unlikely to rise significantly.

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EUR: the situation remains neutral so far

EUR: the situation remains neutral so far

The eurozone will provide updates on Q4 2023 GDP. The indicator is anticipated to have risen by 0.1% year-over-year, with no quarterly changes. Additionally, it is worth paying attention to industrial production statistics for December. While the index may have slightly improved, it will not significantly change the state of affairs. For the EUR, the situation remains neutral.

JPY: awaiting support

JPY: awaiting support

Japan will provide data on Q4 GDP, which is expected to have fallen by 2.5% year-over-year, compared to the previous decline of 2.9%. If the forecast is accurate, this could provide good support for the JPY exchange rate.

China: everyone is on holiday

China: everyone is on holiday

China is on New Year holidays, impacting the entire performance of the Asia-Pacific region markets. Interest in risk remains stable, which is a highly favourable environment for risky assets.

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AUD: opportunity for growth

AUD: opportunity for growth

Australia will release information on just one significant indicator – the NAB business confidence index for January. Its value might have remained negative as in the previous month. However, if the data provided exceeds forecasts, the AUD will have a chance to grow.

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