Week Ahead: NFP & FED To Keep Dollar In The Spotlight

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1. NFP & FED To Keep Dollar In The Spotlight
We are in for another data packed week with the USD due to receive the most attention this week ahead of the US employment report and the Federal Reserve Interest Rate Decision. The first UK report for 2018 is out this Friday and it will be watched closely by investors worldwide as it is expected to affect the price of the USD pairs. Current forecasts point to a rise from 148k to 178k in January, while the jobless rate is expected to stay unchanged at 4.1%. The Fed’s latest monetary policy decision is also due this Wednesday and key interest rates are expected to remain unchanged while there will be no press conference after the announcement. However, the accompanying statement could contain revised views on the economy and inflation, which could in turn affect USD pairs.*

2. UK PMI Data To Affect GBP Pairs
The UK is due to release its PMI business gauges this Thursday and Friday. Investors will be looking closely at the two releases to see whether Britain’s economy continues to expand and defy post-Brexit recession forecasts. British manufacturing activity is expected to improve in January, with the index rising from 56.3 to 56.5 on Thursday. However, the construction PMI is forecast to slightly dip this Friday. If both readings are surprisingly robust, the latest sterling rally is expected to be supported. It should be noted that the pound will also be affected by Governor Mark Carney’s comments on the economy when he testifies before the House of Lords Economic Affairs Committee in Parliament this Tuesday.**

3. Strong EU GDP To Affect The EUR
The Eurozone is due to report its flash estimate of fourth quarter GDP on Tuesday. Quarterly growth is expected at 0.6% for the three months to December, below the prior 0.7% rate, but given the upbeat business surveys, a surprise strong print is also possible. It should be noted that a stronger than expected reading could push the EUR higher against its rivals. On Wednesday, the Eurozone will also see the release of the flash CPI estimates. The preliminary reading is expected to show Eurozone inflation easing from 1.4% to 1.3% in January. Such a reading could potentially give all the more reason to the ECB not to rise key interest rates, or rush its QE exit plan next month.**

You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.

*Source: CNBC

**Source: Investing

Upcoming Earnings Reports This Week:
30/1/2018 – Harley-Davidson, Inc. (#HOG) to report pre-market
30/1/2018 -McDonald’s Corporation (#MCD) to report pre-market
30/1/2018 – Koninklijke Philips NV (#PHG) to report pre-market
30/1/2018 – Electronic Arts Inc. (#EA) to report post-market
31/1/2018 – The Boeing Company (#BA) to report pre-market
31/1/2018 – Siemens AG ADR. (#SIEGY) to report pre-market
31/1/2018 – eBay Inc. (#EBAY) to report post-market
31/1/2018 – Facebook (#FB) to report post-market
31/1/2018 – Microsoft Corporation (#MSFT) to report post-market
31/1/2018 – PayPal Holdings, Inc. (#PUPL) to report post-market
01/2/2018 – DowDuPont Inc. (#DWDP) to report pre-market
01/2/2018 – Royal Dutch Shell plc (#RDS.A) to report pre-market
01/2/2018 – Alibaba Group Holding Limited (#BABA) to report pre-market
01/2/2018 – Vodafone Group Plc. (#VOD) to report pre-market
02/2/2018 – BT Group Plc. (#BT) to report pre-market
02/2/2018 – Merck & Co Inc. (#MRK) to report pre-market
02/2/2018 – Exxon Mobil Corporation (#XOM) to report pre-market

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