Market Weekly Outlook Jan 27 2020

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Fed -Forex - 65987

In the week ahead; Investors will shift their focus to Wednesday’s Fed meeting as well as Bank of England meeting. It is almost certain that the Fed will keep monetary policy on hold. The Bank of England is to make its final monetary policy decision before the Brexit on Thursday, January 31. This will be the last meeting of Mark Carney as Governor of the Central Bank. The following are the most important events that may affect the market this week:

Monday, Jan 27
  • Germany will report on the Ifo Business Climate Index (Jan) at 09:00 GMT. The forecast is to rise by 97.0, from 96.3 in the preceding month. A selling opportunity is likely for EURUSD.
Tuesday, Jan 28
  • The U.S will report on Core Durable Goods Orders (MoM) (Dec) at 13:30 GMT.  The forecast is to rise by 0.2%, from -0.1% a month earlier.
  • The U.S will also report on CB Consumer Confidence (Jan) at 15:00 GMT. The forecast is to inch up 128.0, from 126.5 in the previous month.
Wednesday, Jan 29
  • Fed Interest Rate Decision: The Federal Reserve will announce its monetary policy decision and publish data on its economic projections at 19:00 GMT. The Fed is expected to keep the interest rates on hold. The central bank will also release its latest forecasts for economic growth. This will be the first Fed meeting in 2020. The Fed cut rates three times in 2019. How did that affect the US economy? Will there be a possibility of a rate cut in 2020? The Fed will hold a press conference at 19:30 GMT.
Thursday, Jan 30
  • German Unemployment Change (Jan) at 08:55 GMT. The forecast is to fall 3K, from 8K in the preceding month.
  • Bank of England Interest Rate Decision (Jan) at 12:00 GMT. Followed by BoE Gov Carney Speaks at 12:30 GMT. The Bank of England is expected to keep rates on hold at its meeting on Thursday. Volatility is expected.
  • The U.S will release advance fourth-quarter GDP figures on Thursday at 13:30. The forecast is to grow at a rate of 2.1%.
Friday, Jan 31
  • Euro-Zone Consumer Price Inflation (YoY) (Jan) at 10:00 GMT. The forecast is to rise by 1.4%, from 1.3% a month earlier.

You can track the economic data in real-time at the following link below:

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