Summary of the most interesting economic events from the trading week 15 - 21 January 2024

Monday's recap is here! We have a couple of central bank meetings this week. Let's hope something comes of it. Have a great Monday, everyone!


We started the week with a speech by Robert Holzmann (ECB), from which we could understand that monetary policymakers should probably not discuss any early rate cuts just yet.


On Tuesday, we got fairly strong data from the UK labour market, on which the pound strengthened. The unemployment rate remained steady at an estimated 4, 2 %.


The US Dollar received fairly positive data last week, which reinforces our belief that the USD has been stronger and increasingly interesting since the new year.


On Tuesday, we also received data from Canada. The annual core inflation rate fell to 2.6 %, but the core annual rate rose to 3.4 %, as expected.


The Australian has had a tough week. The inflation rate was 3.9 %, which was in line with market forecasts and was no change.


To make matters worse, we also focused on inflation from Japan, which came out lower and negative for the JPY.

What's in store for the current trading week?

The week starts with Tuesday's Bank of Japan meeting, which is not expected to bring any change in rates. However, it could offer some signal of its willingness to normalise rates in the spring. That could move the JPY quite a bit.


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