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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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