This week, traders' attention is focused on the Federal Reserve meeting, as well as the publication of U.S. important economic data, changes in Eurozone inflation, China’s manufacturing PMI, and the report on UK manufacturing and construction PMI.
Monday, January 29. The Fed meeting, which will be the last, headed by Janet Yellen, passing her responsibilities to Jerome Powell.
Tuesday, January 30. The day’s highlight is the U.S. president Donald Trump’s give the traditional State of the Union address to a joint session of the Congress. According to a representative of the White House, Donald Trump will approach seven main subjects: creating new jobs, economic growth, infrastructural projects, problems of immigration, international trade and the national security. The reports on GDP of Spain and France will be published on Tuesday as well.
Wednesday, January 31. The Fed interest rate decision will be published. Analysts expect it to remain unchanged for now and to be raised in March. The Fed’s monetary policy statement will also be published the same day. Another day’s highlight will be the publication of European inflation data for January. Experts believe that consumer prices has risen by 1.3% in January, which is a little slower than in December (1.4%), being still lower than the ECB target of about 2%. They expert core inflation rate to increase slightly, from 0.9% in December to 1.0%. Besides, traders will be interested in the publication China’s manufacturing PMI for January.
Thursday, February 1. There will be published the data on UK manufacturing PMI for January. The report will reflect the UK economic state and the interest rate probable raise by the central bank in 2018.
Friday, February 2. The US Department of Labor will report on nonfarm payrolls for January, as well as on average personal earnings and expenditures, including US PME that is an important index for the Fed to assess inflation.
Besides, there will be the releases of such important US data as consumer confidence index, ADP report on nonfarm payrolls, report on pending home sales, initial jobless claims, as well as the reports on construction spending, total vehicles sales and factory orders.
Caixin report on China’s manufacturing PMI will be released on Friday as well.