The week will be full to the brim featuring monetary policy announcements from the Bank of Japan, the Fed, the Bank of England, and the release of jobs data in the United States. Here’s your week ahead.
The Bank of England monetary policy announcement and press conference went broadly as expected today, with the central bank holding off on raising rates while maintaining that they will rise gradually over the forecast period.
NAFTA talks resume again in Washington today – it’s a critical period and the U.S. is still pushing a hardline. China trade data will be the market’s focus along with Australia’s annual budget. Here’s what you need to know.
The highlights for the market this week will be the rate statements from the European Central Bank and the Bank of Japan alongside the release of the first estimate of the first quarter growth in the U.S.
Inflation figures will be released for both the U.S. and eurozone; we’ll also hear from a number of central bankers including the heads of the Federal Reserve, European Central Bank and Bank of England.
The U.S. dollar had its strongest week against major currency pairs in twelve months. Even as the United States is suffering a bout of political uncertainty, the dollar became a safe haven as stocks and bonds saw massive moves this week.
The release of the U.S. nonfarm payrolls proved to be the much needed shot in the arm after the greenback was under pressure for most of 2018. Job gains surpassed expectations but more importantly the hourly wages came in higher, giving the Fed a potential green light to hike 3 or 4 times in 2018.
It’s been an interesting week as events made headlines and shook up financial markets. Donald Trump’s speech at Davos was eventful, and as expected, Trump pushed his America first agenda while making the argument for fair and reciprocal trade.