Mario Blascak, PhD
Independent Analyst
What you need to know before markets open:
- A victory of pro-independence political parties in Catalan regional elections rose the political risk dragging EUR lower only temporarily.
- The UK GDP confirmed expectations with revisions of past lifting the growth to 1.7% over the year.
- Bitcoin suffers 10% drop trading at around 14K, 25% off its 20K peak.
Friday’s market moving events
- The US core PCE price index is expected to rise 0.1% m/m and 1.5% y/y.
- The US durable goods orders are set to increase 2.0% m/m in November with the core orders up 0.5% m/m.
- The US Personal income is set to rise 0.4% m/m in November.
- The US Personal spending is set to rise 0.5% m/m in November.
- Canada’s GDP in October is expected to rise 0.2% m/m.
Major market movers
- The Canadian dollar was a mover of Thursday rising after both retail sales and inflation exceeded forecast boosting the case for the Bank of Canada to raise rates.
- The US Dollar is trading little changed one day before prolonged Christmas vacations.
- See Canada’s GDP confirming solid economic form sending Loonie higher.
Earlier in Asia/Europe
- Catalan pro-independence parties won 70 seats in 135 member regional parliament.
- German import prices rose 0.8% m/m and 2.7% y/y in November.
- German Gfk consumer confidence increased to 10.8 in January with the economic expectations highest in three and a half year.
- French GDP rose 0.6% q/q in Q3 2017 with household consumption driving it higher than expected 0.5% increase.
- UK Q3 GDP is expected to rise 0.4% q/q while revisions of past resulted in higher y/y growth rate of 1.7%.
- UK Q3 business investment accelerated to 0.5% q/q and 1.7% y/y.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.