Weekly Analysis ( 23 Jan – 27 Jan 2023 )
23 Jan – 27 Jan 2023 |
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Time(GMT) |
CRY |
Event |
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Monday |
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Holiday |
CNY |
Chinese New Year |
|
17:45 |
EUR |
ECB Lagarde Speaks |
|
Tuesday |
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Holiday |
CNY |
Chinese New Year |
|
08:30 |
EUR |
German Manufacturing PMI |
|
09:30 |
GBP |
Composite, Manufacturing, Services PMIs |
|
09:45 |
EUR |
ECB Lagarde Speaks |
|
21:45 |
NZD |
New Zealand CPI |
|
Wednesday |
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Holiday |
CNY |
Chinese New Year |
|
00:30 |
AUD |
Australia CPI |
|
09:00 |
EUR |
German Ifo Business Climate Index |
|
15:30 |
USD |
Crude Oil Inventories |
|
Thursday |
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Holiday |
CNY |
Chinese New Year |
|
13:30 |
USD |
US GDP |
|
13:30 |
USD |
US Initial Jobless Claims |
|
13:30 |
USD |
US Durable Goods Orders |
|
Friday |
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Holiday |
CNY |
Chinese New Year |
|
10:30 |
EUR |
ECB Lagarde Speaks |
|
13:30 |
USD |
US Core PCE Price Index |
|
15:00 |
USD |
Pending Home Sales |
|
The U.S. debt limit is likely to have a significant impact on financial markets. Investors will be provided with updates on the growth of the U.S economy in the fourth quarter, which is predicted to remain strong despite recent indications of a downturn. Additionally, information about PMI in the Eurozone and inflation figures from Japan will also be closely monitored. These are the key things to be aware of as the week begins. The U.S. government reached its debt limit of $31.4 trillion on Thursday while facing a disagreement between conservative Republicans and President Joe Biden's Democratic party over increasing the country's debt ceiling. In the upcoming week, the performance of technology stocks will be evaluated as companies release their earnings reports. Investors will be closely watching to see if large technology firms can continue to grow their revenue and profits while also reducing expenses, as the U.S. economy appears to be slowing down and possibly heading towards a recession. Among the companies reporting this week are Microsoft, the second-largest U.S. company by market value, on Tuesday, Tesla led by Elon Musk on Wednesday, and Intel on Thursday. ECB President Christine Lagarde, who recently spoke out against the idea that the ECB would slow its rate hike plans due to recent drops in inflation, has two upcoming speaks this week. Additionally, the Eurozone is set to release economic data that will give more insight into the overall health of the economy. On Wednesday, the German Ifo business climate index, a closely monitored metric, is predicted to show improvement for a second consecutive month. In Japan, inflation is currently at a 40-year high and is twice the target set by the BOJ, however, the BOJ is resisting the idea that its prolonged, ultra-loose monetary policy will be ending soon. On Wednesday, both Australia and New Zealand will reveal their inflation data as the Reserve Bank of Australia considers pausing rate hikes and the Reserve Bank of New Zealand weighs the possibility of further tightening their monetary policy. |