The key economic events for this weekFebruary 10-14
1. Tuesday – GBP GDP Growth Rate Prel (q/q) @10:30am
2 Wednesday - NZD Interest Rate Decision @ 2:00am
3. Thursday --- US Consumer Price Index (m/m) @ 2:30pm
3. Friday - US Retail Sales @2:30pm
UNITED KINGDOM GDP - The United kingdom GDP is scheduled to be released on Tuesday. Its GDP is expected to have dropped to 0.0% from the prior 0.4% in the last quarter.This can be owing to decreasing crude oil prices and increased uncertainties over Brexit.A better than expected figure will strengthen GBP while a worse than expected will weaken GBP.
NEW ZEALAND INTEREST RATE-The Reserve Bank of New Zealand will release its interest rate on Wednesday. The market expectation is for RBNZ hold rate at 1%.There has been increased pressure from other central banks that have been also cutting rates, such as the FOMC and RBA. There is a degree of both anticipating any downturn and also trying to compete with the other central banks. Should the rate remain unchanged could be positive for NZD. However, the market will turn its attention to the accompanying statement. A hawkish statement will strengthen the Kiwi while a dovish statement will weaken the Kiwi.
US CONSUMER PRICE INDEX – The US will release its consumer price index report on Thursday. The figure is expected to show 0.2% (m/m) expansion from the prior month while it is expected to show 2.5% (y/y). A better than expected outcome will strengthen the USD while a weaker than expected will be negative for USD.
US RETAIL SALES - The United States will release its data for retail sales on Friday. The retail sale is forecast to show a 0.3% increase for the month of January. While the core retail sales are expected to drop to 0.3% from the prior 0.7%. A better than expected forecast will be positive for dollar while a worse than expected forecast will be negative for the greenback.