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17 Jan 2021
4 min read

A Look into the Week Ahead

A Look Ahead into the Week

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • Important data anticipated
  • Joe Biden to be sworn in as the 46th President of the US

The week starting Monday, Jan 18 promises to bring exciting and market-moving news from around the globe. At the beginning of the week, the US will be celebrating Martin Luther King Jr. Day and the stock and bond markets will be closed in observance of the holiday. Although US traders are taking a breather on Monday, European trading and market benchmarks in China will operate normally.

Tuesday comes with a dose of economic data from Germany. The ZEW Indicator of Economic Sentiment is set to be released on Tuesday, 05:00 am EST. The index gauges the six-month economic outlook and the reading is based on a survey of around 300 experts from financial institutions.

 

Key Economic Data From Around the World

Wednesday is packed with some important data arriving from the UK, Canada, and the EU. The UK will release its latest CPI report at 02:00 am EST, followed by the EU’s CPI data at 05:00 am EST. Later in the day, Canada will present the same at 8:30 am EST along with a Bank of Canada monetary policy report and an update on the interest rate at 10:00 am EST. Australia will release the latest employment figures at 7:30 pm EST. Bank of Japan will hold its monetary policy meeting.

Wednesday will be the day of the official inauguration of the new US President. President-elect Joe Biden will enter the White House on Jan 20. The formal ceremony marks the start of a new presidency, and it takes place in Washington DC. The opening of the presidential ceremony is scheduled for around 11:30 am EST.

On Thursday, the market will be monitoring the ECB Interest rate decision at 7:45 am EST and the ECB Press Conference at 8:30 am EST. New Zealand will present its CPI report at 4:45 pm EST while Australia will deliver the latest retail sales data at 7:30 pm EST.

On Friday, the UK will deliver its retail sales report for December at 2:00 am EST and Germany will present the latest manufacturing PMI data at 3:30 am EST. An hour later, at 4:30 am EST, the UK will also release manufacturing PMI data as well as services PMI. Later at 8:30 am EST, Canada will publish its core retail sales for November, followed by US Existing Home Sales for December at 10:00 am EST.

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