Here is what you need to know about the important news between January 23rd, 2023, and January 27th 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
Dollar index starts the week “defensively” breaking the support of 102 level. The hawkish message from the latest FOMC Minutes and recent comments from fed’s rate-setters, all pointing to the need to advance to a more restrictive stance and stay there for longer, at the time when rates are seen climbing above the 5.0% mark.
Gold
Gold continues to climb, reaching higher than $1920 forming a support level at $1917. As gold and silver remain sensitive to changes in monetary policy, the softer narrative has helped drive precious metals higher. With the Fed now expected to raise rates at a slower pace, the probability of a 0.25% increase at the next FOMC has risen to 95.2%
Oil
January has seen consistent gains for energy benchmarks, mostly triggered by signs of renewed vigor in the world’s number two economy. China was hit hard by draconian Covid-lockdown rules, and also by a broad, post-pandemic rethink of the globalization model which has underpinned its astonishing economic rise. However, those rules have been relaxed and latest data are more encouraging.
Stocks
Ahead in the week, investors will be bracing for a busy week of U.S. economic events including preliminary Manufacturing and Services PMIs, core durable goods orders, the preliminary Q4 GDP reading, initial jobless claims, new home sales, PCE price index, Michigan consumer sentiment, and pending home sales data.
In addition, earnings season is set to heat up with companies such as Microsoft Corporation (NASDAQ:MSFT), International Business Machines (NYSE:IBM), Tesla Inc (NASDAQ:TSLA), Visa Inc (NYSE:V), Intel Corporation (NASDAQ:INTC), and Chevron Corp (NYSE:CVX) set to report results.
Economic calendar most important releases – All times are GMT
Monday, January 23, 2023
17:45 EUR ECB President Lagarde Speaks
Tuesday, January 24, 2023
09:30 GBP Flash Manufacturing PMI
14:45 USD Flash Services PMI
21:45 NZD CPI q/q
Wednesday, January 25, 2023
00:30 AUD CPI q/q
15:00 CAD Overnight Rate
15:00 CAD BOC Monetary Policy Report
15:00 CAD BOC Rate Statement
16:00 CAD Press conference
Thursday, January 26, 2023
13:30 USD Advance GDP q/q
Friday, January 27, 2023
13:30 USD Core PCE Price Index m/m
Thanks for reading! Have a great week! 
Important Note: The information found on Ausprime platform is intended only to be informative, is not advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not include any specific investment objectives, financial situation and needs of any specific person who may receive it. The past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statement.
