It’s a new year and a new week in trading, and we return with our regular fx trading news and updates. This EU and the US will dominate much of this week’s series of events, which include a number of significant data, including CPI and unemployment figures. Check out the details of these events below:
Event: Consumer Price Index/Harmonised CPI (MoM/YoY, Dec) – Germany
Date: January 6, 2014
Time: 1:00pm (GMT)
What It Is About and Why It’s Important
Germany’s CPI and Harmonised CPI are expected to improve in December. From 1.3%, the CPI is seen to grow by 1.4% over the past 12 months, while it is seen to grow by 0.3% compared to the 0.2% growth in the previous month. The Harmonised CPI, meanwhile, is expected to grow by 0.8% compared to the previous month’s growth of 0.2%. A growth of 1.4% over the past 12 months is expected, on the other hand.
Event: ISM Non-Manufacturing PMI (Dec) – United States
Date: January 6, 2014
Time: 3:00pm (GMT)
What It Is About and Why It’s Important
Improvement of the US economy is seen from a number of fronts, including its non-manufacturing PMI. It is expected to jump to 54.6, compared to the previous 53.9.
Event: Fed Chairman Nomination Vote – United States
Date: January 6, 2014
Time: 10:30pm (GMT)
What It Is About and Why It’s Important
Janet Yellen may be on her way to become the first woman to head the Fed, replacing Ben Bernanke whose second four-year term is about to end. Yellen is a staunch advocate of Bernanke’s policies. Expect some volatility in the USD during this event.
Event: Unemployment Change/Unemployment Rate – Germany
Date: January 7, 2014
Time: 8:55am (GMT)
What It Is About and Why It’s Important
Germany’s unemployment figures are expected to remain stable, with no change in the unemployment numbers (0K), while the unemployment rate is expected to stay at 6.9%.
Event: CPI (YoY, Dec) – European Union
Date: January 7, 2014
Time: 10:00am (GMT)
What It Is About and Why It’s Important
As with November 2013, the EU’s CPI is expected to be at 0.9% in December 2013.
Event: FOMC Minutes – United States
Date: January 8, 2014
Time: 7:00pm (GMT)
What It Is About and Why It’s Important
Those looking for details on the last FOMC meeting should check out this event.
Event: CPI (MoM, YoY/Dec) – China
Date: January 9, 2014
Time: 2:00am (GMT)
What It Is About and Why It’s Important
China’s CPI is seen to have risen by 2.8% in December compared to the previous month. However, a contraction by 1.3% is seen over the past 12 months.
Event: BoE Interest Rate Decision/BoE Asset Purchase Facility – United Kingdom
Date: January 9, 2014
Time: 12:00pm (GMT)
What It Is About and Why It’s Important
The BoE is largely expected to maintain its interest rate at 0.5%, while its bond purchases will remain at GBP375 billion.
Event: ECB Interest Rate Decision – European Union
Date: January 9, 2014
Time: 12:45pm (GMT)
What It Is About and Why It’s Important
The EU is expected to maintain its rates at its current 0.25%.
Event: Unemployment Rate/Net Change in Employment (Dec) – Canada
Date: January 10, 2014
Time: 1:30pm (GMT)
What It Is About and Why It’s Important
Canada’s Unemployment Rate is expected to remain at 6.9%, while the current net change in employment is at 21.6K.
Event: Nonfarm Payrolls (Dec) – United States
Date: January 10, 2014
Time: 1:30pm (GMT)
What It Is About and Why It’s Important
The US NFP data is expected to be lower in December at 194K compared to the previous 203K. As usual, anticipate volatility around the time of this announcement.
Event: Unemployment Rate (Dec) – United States
Date: January 10, 2014
Time: 1:30pm (GMT)
What It Is About and Why It’s Important
The US Unemployment Rate is expected to remain at 7%.