On the macro
It’s a quiet week ahead on the economic calendar, with 32 stats at a glance during the week ending 24e December. During the previous week, 87 statistics had been finalized.
For the dollar:
Finalized 3e GDP for the quarter and weekly jobless claims will be the focus of concerns mid-week. Expect unemployment claims to be key.
There will also be a lot of interest in the core durable goods, inflation and personal spending figures ahead of Friday’s vacation.
In the week ending 17the In December, the Dollar Spot Index rose 0.49% to 96.565.
For the euro:
Consumer sentiment Germany and the eurozone will be the center of attention on Tuesday. We continue to see an increased sensitivity of the euro to consumer sentiment figures. A sharp drop, due to the increase in COVID-19 cases, would test support for the euro.
Thursday 3e GDP figures for the quarter for Spain are also expected but should have a moderate impact on the euro.
On the week, the euro fell 0.65% to $ 1.1240.
For the pound:
It’s a quiet week ahead on the economic calendar.
CBI industrial trend orders for December are expected on Monday, but are expected to have a moderate impact on the pound.
Wednesday, finalized 3e the quarter’s GDP figures will also be the focus of attention. Expect the revisions to influence.
The pound fell 0.21% to end the week at $ 1.3245.
For the loonie:
It’s a relatively quiet week ahead on the economic calendar.
Retail sales figures for November will be the center of attention on Tuesday ahead of GDP figures on Thursday. Expect both data sets to influence.
The loonie ended the week down 1.31% to C $ 1.2889 against the US dollar.
Outside of Asia
For the Australian dollar:
There are no important statistics from Australia to give direction to the Australian dollar.
While there are no statistics, both RBA meeting minutes and Australia’s mid-year economic and fiscal outlook will both influence Tuesday.
The Australian dollar fell 0.66% to $ 0.7125.
For the Kiwi-Dollar:
November’s trade data will be the center of attention at the start of the week. With little further consideration for the markets, we can expect the Kiwi dollar to be sensitive to the numbers.
The Kiwi dollar ended the week down 0.84% to $ 0.6739.
For the Japanese yen:
It’s a quiet week on the economic data front, with statistics limited to inflation numbers for November. However, we do not expect the yen to be sensitive to the numbers.
The Japanese yen fell 0.25% to 113,720 yen against the US dollar.
Outside of china
There are no important statistics from China to influence the markets during the week. The news of COVID-19, however, will generate interest.
On the monetary policy front, the PBoC is expected to set prime lending rates on Monday. The markets are not waiting for any movement.
The Chinese yuan ended the week down 0.08% to CNY 6.3754 against the US dollar.
Nothing new to consider in the coming week, with China and Capitol Hill continuing to be the primary areas of focus.
Updates on the Omicron strain will be a key area.
This article originally appeared on FX Empire
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