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Market Opportunities : Week 29-01-2024 - 02-02-2024
USDIDX: Federal Reserve interest rate decision is the key event in the January 29 – February 02 week. Fed chair Jerome Powell will hold a conference on January 31. Members of Federal Open Market Committee have expressed their support for need to wait for confirmation the inflation is falling back to target 2% rate. In case policy makers indicate the conditions are ripe for start of the cycle of rate cuts at January 30-31 meeting the USDIDX will get a bearish impulse.
GBPUSD: Bank of England (BOE) interest rate decision due on February 1 is an important economic event. BOE held rates at 5.25% at its December meeting. UK consumer price inflation ticked up unexpectedly to 4% over year in December. A BOE decision to raise rates at its February meeting will be bullish for GBPUSD.
GBPUSD: Bank of England (BOE) interest rate decision due on February 1 is an important economic event. BOE held rates at 5.25% at its December meeting. UK consumer price inflation ticked up unexpectedly to 4% over year in December. A BOE decision to raise rates at its February meeting will be bullish for GBPUSD.
Key Events to Watch
| Date | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 2024-01-30 | AUD | Australia Retail Sales m/m | 0.8% | 2.0% |
| 2024-01-30 | EUR | France Gross Domestic Product (GDP) q/q | -0.1% | -0.1% |
| 2024-01-30 | EUR | Germany Gross Domestic Product (GDP) q/q | 0.0% | -0.1% |
| 2024-01-30 | EUR | European Union Gross Domestic Product (GDP) q/q | -0.1% | -0.1% |
| 2024-01-30 | MXN | Mexico Gross Domestic Product (GDP) q/q | 0.5% | 0.9% |
| 2024-01-30 | USD | United States JOLTS Job Openings | 8.658 M | 8.790 M |
| 2024-01-30 | USD | The Conference Board United States Consumer Confidence Index | 102.4 | 110.7 |
| 2024-01-31 | JPY | Japan Retail Sales m/m | ||
| 2024-01-31 | CNY | China Manufacturing Purchasing Managers Index (PMI) | 49.3 | 49.0 |
| 2024-01-31 | CNY | China Non-Manufacturing Purchasing Managers Index (PMI) | 44.0 | 50.4 |
| 2024-01-31 | CNY | China Composite Purchasing Managers Index (PMI) | 50.3 | |
| 2024-01-31 | HKD | Hong Kong Gross Domestic Product (GDP) q/q | 1.3% | 0.1% |
| 2024-01-31 | USD | ADP United States Nonfarm Employment Change | 137 K | 164 K |
| 2024-01-31 | CAD | Canada Gross Domestic Product (GDP) m/m | 0.0% | 0.0% |
| 2024-01-31 | USD | EIA United States Crude Oil Stocks Change | ||
| 2024-01-31 | USD | Federal Reserve System (Fed) Interest Rate Decision | 5.50% | |
| 2024-01-31 | USD | Federal Open Market Committee (FOMC) Press Conference | ||
| 2024-02-01 | EUR | European Union Leaders Summit | ||
| 2024-02-01 | BRL | Central Bank of Brazil Interest Rate Decision | 11.75% | |
| 2024-02-01 | GBP | Bank of England (BoE) Interest Rate Decision | 5.25% | |
| 2024-02-01 | GBP | Bank of England (BoE) Governor Bailey Speech | ||
| 2024-02-01 | USD | ISM United States Manufacturing Purchasing Managers Index (PMI) | 47.4 | 47.4 |
| 2024-02-02 | USD | United States Nonfarm Payrolls | 186 K | 216 K |
