Check out the Weekly Market Report for February 5th - 9th, 2018 !
RBA, RBNZ and BoE interest rate decisions and other key financial data in focus.
Next week’s market movers
- In the UK, focus will be shifted to the BoE interest rate decision on Thursday and is expected to remain on hold.
- The RBNZ’s interest rate decision on Wednesday, should also attract attention despite the forecast to remain on hold.
- Also RBA’s interest rate decision is expected to move the markets, despite that it is forecasted to remain on hold.
- Other key financial data will be released from the US, New Zealand, China and Canada.
On Monday, during the European morning we get UK’s Markit/CIPS Services PMI for January. The indicator is forecasted to drop to 54.0 from previous reading of 54.2.
The importance of the indicator lays with the large proportion of the services sector in the UK economy. However the small amount of change could mute the reaction. Should the actual results meet the forecast, GBP could weaken somewhat.
Later on during the US session, the US ISM Non-Manufacturing PMI will be released. The indicator is forecasted to rise slightly to 56.3 from previous reading of 55.9.
The indicator as such is important, however should the actual results meet the forecast, it could indicate a reversal of the past three months downward trend and hence gains on importance. Any actual result, equal or above the forecast could strengthen the USD.
On Tuesday…..
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