Economic calendar | January 23 – 27

Monday, January 23

This week, the macroeconomic calendar is not rich in any events, and on Monday it is completely empty. So the whole week will be pretty calm and quiet. 

Tuesday, January 24

Tuesday will be the busiest day of the week due to the publication of preliminary data on business activity indices in many countries. In Japan and the United States, all indices are expected to decline without exception, so the yen and the US dollar will be under pressure.  

But in the eurozone and the UK, the growth of indices is predicted, which will cause an even greater increase in the euro and the pound sterling.

Wednesday, January 25

Wednesday is likely to start with a rise in the Australian dollar, as inflation in Australia should accelerate from 7.3% to 7.4%. This will indicate that the Reserve Bank of Australia has no reason to slow down the pace of interest rate growth. And even more so to reduce them. 

The main event of Wednesday will be a meeting of the Board of the Bank of Canada, during which the refinancing rate will be increased from 4.25% to 4.50%. This increase is quite expected and is unlikely to affect market sentiment. However, subsequent statements and comments by the central bank may put pressure on the Canadian dollar. The fact is that given the values of inflation, the Canadian regulator is likely to announce a gradual stabilization of monetary policy and preparation for its easing.

Thursday, January 26

The main event not only on Thursday, but throughout the week, will be the first estimate of the GDP of the United States in the fourth quarter of last year, which should show a clear slowdown in economic growth. And this will further convince investors that the American economy is slipping into recession, as a result of which the dollar will be under even more pressure.

Friday, January 27

At the end of the week, the economic calendar is virtually empty. The fact is that all publications will not affect the dynamics of the market in any way, since investors will continue to work out preliminary estimates of US GDP and subsequent forecasts for the development of the American economy.