In This Article:
On the Macro
It’s a particularly quiet and shortened week ahead on the economic calendar, with 15 stats in focus in the week ending 1st January. In the week prior, 32 stats had been in focus.
For the Dollar:
It’s a relatively busy week ahead on the economic data front, with U.S stats making up for most of the stats due out.
On Tuesday, Chicago PMI numbers are due out on Wednesday.
Of greatest significance, however, are the all-important initial jobless claims figures that are due out on Thursday.
Other stats including housing sector and trade data that will likely have a muted impact on the Dollar.
It’s a shortened week, with the U.S markets closed on Friday.
The Dollar Spot Index ended the week up by 0.23% to 90.223.
For the EUR:
It’s a particularly quiet week ahead on the economic data front, with most European markets closed on Thursday and Friday. French jobseeker totals on Monday and prelim inflation figures for Spain on Wednesday are the only stats to consider.
We don’t expect the numbers to have a material impact on the EUR, however.
Economic data from China and Brexit and COVID-19 news will remain the key drivers in the week.
The EUR ended the week down by 0.52% to $1.2193.
For the Pound:
It’s a particularly quiet week ahead on the economic calendar. It’s another shortened week, with the UK markets closed on Monday and Friday and set for an early close on Thursday.
Key stats are limited to December house price figures that will likely have a muted impact on the Pound.
The main area of focus in the week will remain Brexit and updates on COVID-19. For the Pound, the House of Commons vote on 30th December will be the main event.
The Pound ended the week up by 0.27% to $1.3560.
For the Loonie:
It’s also a particularly quiet week ahead on the economic calendar, with no material stats to provide direction.
The lack of stats will leave the Loonie in the hands of COVID-19 news updates in the week.
It’s a shortened week, with the Canadian markets closed on Monday and on Friday.
The Loonie ended the week down by 0.60% to C$1.2865 against the U.S Dollar.
Out of Asia
For the Aussie Dollar:
There are no material stats due out to provide the Aussie Dollar with direction.
From China, private sector PMI numbers for December will draw interest on Thursday and Friday, however. With the Australian markets closed on Friday and scheduled for an early close on Thursday, we could see a bigger response than normal. The Australian markets are also closed on Monday.
Away from the economic calendar, expect COVID-19 news to also influence.