The key economic events for this week January 27-31
1. Wednesday – AUD Consumer Price Index (q/q) @ 1:30am
2. Wednesday-- US Interest Rate Decision @ 8:00pm
3. Thursday----- GBP Interest Rate Decision @ 1:00pm
4. Thursday----- US Gross Domestic Product (q/q) @ 2:30pm
AUSTRALIA CONSUMER PRICE INDEX – Australia will release its consumer price index report on Wednesday. The figure is expected to show 0.6% increase which is a bit higher than the prior quarter. A better than expected outcome will strengthen the Aussie while a weaker than expected will be negative for Aussie.
US INTEREST RATE DECISION –The United nation will release its interest rate figure on Wednesday. The Fed is widely expected to hold rate at 1.75%. If the rate remains unchanged could be Bullish for USD and vice versa. We will be paying attention to the accompanying statement. A dovish statement will weaken the dollar while a hawkish statement will strengthen the greenback.
UK INTEREST RATE DECISION-The United Kingdom will release its interest rate decision on Thursday. The market expects the BOE to leave rate unchanged at 0.75%. Should the rate remain unchanged and the overall market is correct and the BOE remain on hold, the market will turn its attention to the accompanying statement. A hawkish statement will strengthen the pound while a dovish statement will weaken the pound.
US GROSS DOMESTIC PRODUCT - The United States will release its advance gross domestic product data on Thursday. The gross domestic product is expected to show a 2.2% growth in the prior month. A better than expected outcome will strengthen the USD while a weaker than expected will be negative for USD.