Last Thursday.The Swiss National Bank unexpectedly scrapped its three-year policy of capping the Swiss franc against the euro in a move that surprised equities and currency markets, the central bank ended its cap of 1.20 franc per euro and reduced the interest rate on sight deposits, deepening a cut announced less than a month ago, a move intended to dissuade investors from buying the franc.
The US dollar is expected to continue its strength even in case of a pullback , however ; let’s highlight the most critical events which may influence currency market this week :
Monday, Jan 19 2015
- Switzerland will release data on producer price inflation.
- From euro zone, Germany’s Bundesbank will publish its monthly report.
- U.S. markets will remain closed for the Martin Luther King Day holiday.
Tuesday, Jan 20 2015
- China will release data on gross domestic product, followed by a report on fixed asset investment, industrial production and retail sales.
- The ZEW Institute will release its report on German economic sentiment.
- Canada will publish data on manufacturing sales.
- New Zealand will release data on consumer price inflation.
Wednesday, Jan 21 2015
- Australia will release private sector data on consumer sentiment.
- The Bank of Japan will announce its benchmark interest rate and publish its rate statement, followed by a press conference .
- The U.K. will release its monthly employment report, as well as data on average earnings. Also Wednesday, the Bank of England is to publish its monthly meeting minutes.
- The U.S. will release data on building permits and housing starts.
- The Bank of Canada will announce its benchmark interest rate and hold a press conference followed a report on wholesale sales.
Thursday, Jan 22 2015
- Spain will release data on the unemployment rate.
- The ECB will announce its benchmark interest rate followed by a post-policy meeting press conference with President Mario Draghi.
- The U.S. will release it weekly report on initial jobless claims.
Friday, Jan 23 2015
- China will publish the preliminary reading of its HSBC manufacturing index.
- The euro zone will publish preliminary data on private sector activity, while Germany and France will also publish data on private sector growth.
- The U.K. will release data on retail sales.
- Canada will produce data on retail sales and consumer inflation.
- The U.S. will release preliminary data on manufacturing activity and a private sector report on existing home sales.