WEEKLY ECONOMIC CALENDAR AHEAD
Here is what you need to know about the important news between January 2nd 2023 and January 6th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
USD weakness remains the dominating subject on the FX market. Because the market still does not believe the Fed’s affirmations that it will not cut the key rate. It has revised its expectations a little since the last FOMC meeting, but not substantially.
Gold
Gold price (XAU/USD) remains side-lined as holidays in major markets restrict the precious metal’s moves during early Monday. Also acting as an upside filter is the US Dollar’s rebound amid escalating fears from China, as well as headlines suggesting the US growth optimism, backed by comments from the International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva.
Oil.
West Texas Intermediate (WTI), futures on NYMEX, have extended its revival move above the crucial resistance of $78.50 in the early Tokyo session. The oil price sensed buying interest around $77.00 as supply worries due to a ban on oil sales from Russia to G7 countries and the European Union joined expectations of a recovery in demand projections in China due to reopening measures.
Stocks
U.S. stocks closed out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over COVID cases in China.
Economic calendar most important releases – All times are GMT
Monday, January 2, 2023
All Day Holiday United States – New Year’s Day
All Day Holiday United Kingdom – New Year’s Day
All Day Holiday Japan – New Year’s Day
All Day Holiday Canada – New Year’s Day
All Day Holiday New Zealand – New Year’s Day
All Day Holiday Canada – New Year’s Day
All Day Holiday Canada – New Year’s Day
All Day Holiday Canada – New Year’s Day
All Day Holiday United Kingdom – New Year’s Day
Tuesday, January 3, 2023
All Day Holiday New Zealand – New Year’s Day
All Day Holiday Japan – Market Holiday
04:30 GBP Manufacturing PMI (Dec)
Wednesday, January 4, 2023
10:00 USD ISM Manufacturing PMI (Dec)
10:00 USD JOLTs Job Openings (Nov)
14:00 USD FOMC Meeting Minutes
Thursday, January 5, 2023
04:30 GBP Composite PMI (Dec)
04:30 GBP Services PMI (Dec)
08:15 USD ADP Nonfarm Employment Change (Dec)
08:30 USD Initial Jobless Claims
11:00 USD Crude Oil Inventories
Friday, January 6, 2023
04:30 GBP Construction PMI (Dec)
05:00 EUR CPI (YoY) (Dec)
08:30 USD Nonfarm Payrolls (Dec)
08:30 USD Unemployment Rate (Dec)
08:30 CAD Employment Change (Dec)
10:00 USD ISM Non-Manufacturing PMI (Dec)
10:00 CAD Ivey PMI (Dec)
Thanks for reading! Have a great week!
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