With the markets now second guessing how many rate hikes for the year, the ADP numbers will draw plenty of interest. On Thursday, ISM Non-Manufacturi
With the markets now second guessing how many rate hikes for the year, the ADP numbers will draw plenty of interest.
On Thursday, ISM Non-Manufacturing PMI and initial jobless claims will also influence.
At the end of the week, nonfarm payrolls, will be the key stat of the week, however.
In the week ending 28th January, the Dollar Spot Index rose by 1.70% to 97.270.
For the EUR:
It’s a busy week ahead, with 4th quarter GDP numbers for the Eurozone and member state inflation figures in focus on Monday.
German retail sales and unemployment figures along with manufacturing PMIs for member states and the Eurozone will influence on Tuesday.
Mid-week, Eurozone inflation figures will be the key stats ahead of service sector PMIs on Thursday. German factory orders and Eurozone retail sales figures on Friday will also influence.
The main event of the week, however, will be the ECB monetary policy decision and press conference on Thursday. The ECB’s stance on inflation and the economic outlook together with any shifts in forward guidance will be key areas of focus.
For the week, the EUR fell by 1.70% to $1.1151.
For the Pound:
It’s a relatively quiet week ahead on the economic calendar. Finalized private sector PMIs for January will be due out on Tuesday and Thursday. Any revisions to the services PMI will have the greatest influence.
For the Pound, the main event of the week, however, will be the Bank of England’s monetary policy decision on Thursday. Last week, the Pound took a big hit with sentiment towards monetary policy weighing.
The Pound fell by 1.12% to end the week at $1.3401.
For the Loonie:
RMPI numbers for December and GDP figures for November will be in focus early in the week.
Employment and Ivey PMI numbers on Friday will be the key stats of the week, however.
The Loonie ended the week down 1.50% to C$1.2770 against the U.S Dollar.
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