This week ahead: top news to watch this week

Fellow traders, let us have a look at upcoming week in terms of important economic news.

Below you can find short table of major economic news during this week:

Monday: President’s Day in USA, Wall Street will remain closed. In the UK, investors will be looking ahead to a second reading on British growth data for further hints on the health of the economy and the likelihood of the Bank of England raising interest rates this year.

Tuesday: AUD Reserve Bank of Australia Meeting’s Minutes + GBP Inflation Report Hearings. The BoE will hold its Inflation Hearings, where Governor Mark Carney and his colleagues will discuss recent inflation developments before the Treasury Select Committee. The BoE has been keeping the interest rates steady before, but signaled it was likely to raise rates sooner and by more than it thought a few months ago as it seeks to keep a grip on inflation. Tuesday will also bring results from retail heavyweights Walmart (NYSE:WMT) and Home Depot (NYSE:HD), so investors should be watching closely these two giants.

Wednesday: EUR Non-monetary policy’s ECB meeting + USD FOMC Minutes. The most important here being FOMC Minutes. With a pre-set regularity, a nation’s Central Bank has an economic policy meeting, in which board members took different measures, the most relevant one, being the interest rate that it will charge on loans and advances to commercial banks. Besides the FOMC minutes, markets will also be paying close attention to comments from around a dozen Fed speakers this week for their views on the recent uptick in inflation and how that can affect monetary policy.

Thursday: EUR ECB Monetary Policy Meeting Accounts + CAD Retail Sales (MoM) (December). Minutes from the ECB’s January policy meeting will be published during the day. The ECB said it will keep its €2.5 trillion stimulus program in place for as long as needed at that meeting, and stated that there are “very few chances” that it will change interest rates this year.

Friday: JPY Japanese Statistics Bureau inflation figures (January) + EUR Consumer Price Index (YoY) (January). Most important news will come from Tokyo, where at 8:50 AM Tokyo time BoJ will publish fresh data on monthly inflation figures. Market analysts expect the headline figure to remain positive, rising 1.3% year-on-year, which would be the 13th straight month of annual increases.

Sources:

https://www.investing.com/news/economy-news/economic-calendar–top-5-things-to-watch-this-week-1268699

https://www.investing.com/economic-calendar/

https://www.fxstreet.com/macroeconomics/central-banks/fed?utm_source=NLecocal&utm_medium=email&utm_content=intext&utm_campaign=eco-cal-weekly-schedule

https://www.fxstreet.com/economic-calendar