The US dollar is eyeing a fresh low for the year as soft economic data and dovish comments from Federal Reserve officials suggest the central bank may be on the verge of slowing the pace of its rate hikes.
On Tuesday Apple launches its new MacBook Pro computers with upgraded internal chips.
Economic data to close the week will include personal income, personal consumption, University of Michigan consumer sentiment index and pending home sales.
Bitcoin continued its 2023 climb, jumping past $23,000 for the first time since August before retreating to trade at about $22,734 at 10.00 GMT+2.
In Europe, Lagarde said Friday that policy makers mustn’t let up in their battle against inflation even as the spike in consumer prices appears to have peaked. While headline inflation has eased, underlying price gains reached a record in December.
The euro may gain further this week should preliminarily Purchasing Managers Index data due Tuesday indicate the economy is expanding..
Have your trading charts ready!
This Week’s High Impact Events
The times below are GMT +2.
Monday 23rd January
19.45 – Europe – ECB President Lagarde Speaks
Potential instruments to Trade: EUR Crosses.
Tuesday 24th January
10.15 – Europe – Flash Manufacturing & Services PMI
Potential instruments to Trade: EUR Crosses.
11.30 – UK – Flash Manufacturing & Flash Services PMI
Potential instruments to Trade: GBP Crosses.
16.45 – US – Flash Manufacturing & Flash Services PMI
17.00 – US – Pending Home Sales m/m, Revised UoM Consumer Sentiment
Potential instruments to Trade: USD Crosses.
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