This week, the attention of global markets will turn to many forex news, represented by the European Central Bank meeting scheduled to be held next Thursday, in order to obtain any new indications about the bank’s future policies regarding plans to end its huge program to stimulate the economy, and on the other hand, investors will also focus on the decision The monetary policy of the Japanese central bank, especially after it made a small adjustment in bond purchases earlier this month, and in the United States, many important data on inflation levels in the country during the last quarter of last year are due to be revealed to measure the strength of the larger economy At the same time, the United Kingdom is also scheduled to announce its data on the first estimate of GDP during the last quarter of this year, on the other hand, Canada will publish its data on inflation levels and these data will be of interest Market participants, especially after the Central Bank of Canada raised interest rates for the third time in seven months during its previous meeting held last week.
Here are the details of the most important forex news on the global economic scene:
First: The first meeting of the European Central Bank during this year.
It is scheduled at 7:45 ET (12:45 GMT) next Thursday that the European Central Bank will announce its latest decision on the benchmark interest rate during the first monetary policy meeting during this year, and experts’ expectations indicated that the Bank will maintain The announcement will be followed by a 45-minute press conference with Bank President Mario Draghi.
The main focus will be whether the European Central Bank believes that the euro zone recovery is now so strong that it can end its stimulus program of 2.5 trillion euros in one fell swoop during the month of September as previously indicated.
Second: Announcing the monetary policy decision of the Central Bank of Japan
Later this week, the Bank of Japan is scheduled to announce the benchmark interest rate, in addition to publishing a statement on policies that determine economic conditions and the factors that would influence the monetary policy decision. This announcement will be followed by a press conference by Bank Governor Haruhiko Kuroda. “.
Expectations are for this meeting to see short-term interest rates keep at minus 0.1%, and there are some indications recently that the central bank is preparing the ground to start discussions about backing off its quantitative easing program.
Third: the gross domestic product of the United States in the last quarter
The United States will publish several preliminary data on gross domestic product during the last quarter of last year at 8:30 ET (13:30 GMT) on Friday, as this report is expected to show that the world's largest economy will witness Growth slows at an estimated annual rate of 3.0 % from 3.2 %.
In addition to the GDP report, the calendar for this week also includes many important data on durable goods orders and new home sales, as well as several other data on weekly jobless claims.
Fourth: The gross domestic product of the United Kingdom during the last quarter of last year.
The Office for National Statistics in Britain will publish its first report on gross domestic product during the last quarter of last year, at 9.30 GMT (4:30 am EST) on Friday, and expectations indicated that this report will show that the economy Royal has seen a growth of 0.4 % during the last three months of 2017.
In addition to the GDP report, market participants are also focused on the monthly unemployment data, due to be released later on Wednesday, to search for more indications regarding the continued impact of Britain's decision to leave the European Union on the economy.
Fifth: The Canadian economy will release data on inflation levels
At 08:30 ET (13:30 GMT) on Friday, the Canadian economy will announce its report on consumer price inflation during the month of December, and this report is expected to show that inflation decreased by 0.3 % during the previous month, and on YoY basis, CPI is expected to rise by 1.9%.
Canada is also scheduled to release later Thursday its data on retail sales for the month of December.
It is worth noting that the Canadian Central Bank had raised interest rates for the third time during last week's meeting by a quarter of a percentage point to reach 1.25 % after increasing it during July and September for the first time in 7 years, but it indicated a state of concern among bank officials since then, especially In light of the growing uncertainties that may affect the country's economy, including the renegotiation of the North American Free Trade Agreement.
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