This week, the attention of global markets will turn to the feast of forex news represented in the Bank of England meeting scheduled to be held later on Thursday, in order to obtain any new indications about the bank’s future policies and about the possibility of increasing interest rates again during the current year, and on the other hand Investors will also focus on the monetary policy decisions of the Central Bank of Australia and the Reserve Bank of New Zealand, on the other hand, China will release its data on monthly trade figures and these data will gain the attention of market participants, especially amid expectations that the second largest economy in the world is still strong and witnessing Growth at a moderate pace, and in Canada, many important data about new monthly jobs are scheduled to be released and will be focused on in order to get more hints about the health of the economy in the country, especially in light of the possibility that the Central Bank of Canada will raise interest rates again this year. .
Here are the details of the most important forex news on the global economic scene:
First: The announcement of the monetary policy decision of the Bank of England
At 7:00 ET (12:00 GMT) on Thursday, the Bank of England is scheduled to announce the benchmark interest rate, as well as publish a statement on policies that determine economic conditions and factors that would influence a policy decision. The announcement will be followed by a press conference by Bank Governor Mark Carney.
In addition to the Bank of England, there is also a case of heavy focus by market participants on the data of the giant services sector in Britain, which is scheduled to be released at 4:30 ET (9:30 GMT) on Monday, in order to search for more indications regarding the continuation of The impact of Britain's decision to secede from the European Union on the economy.
Second: The meeting of the Monetary Policy Committee of the Reserve Bank of Australia
At 3:30 GMT on Tuesday, the Australian Central Bank is scheduled to announce its latest interest rate decision, along with publishing a statement on policies that determine economic conditions and factors that would influence the monetary policy decision.
Most economists expect the central bank to keep interest rates unchanged at a record low of 1.5 % for the 16th consecutive meeting, and to maintain its neutral policy stance.
Besides, investors will also focus on several important data about retail sales and trade balance due to be released later on Tuesday.
Third: Reviewing the interest rate decision of the Reserve Bank of New Zealand
At 20:00 GMT on Wednesday, the Reserve Bank of New Zealand is scheduled to announce the latest monetary policy decisions, and this announcement will be followed by a press conference with the Bank’s acting “Grant Spencer” to discuss the decision, and “Adrian Orr” former Deputy Governor and Chief Economist will take over. The New Zealand Central Bank will hold the position of Bank President starting from the twenty-seventh of next March.
Expectations indicate that this meeting will witness maintaining interest rates at their lowest levels at the present time, which is 1.75 % for the seventh consecutive meeting.
In addition to the Reserve Bank of New Zealand's decision, employment data for the last quarter of last year due to be released later Tuesday will provide investors with further indications of the strength of the labor market.
Fourth: The Chinese economy will release its monthly trade data
China will release its monthly trade data report at 03:00 GMT Thursday, and this report is expected to show that the country's trade surplus decreased slightly to $54 billion during the previous January from an estimated surplus of 54.7 billion. dollars last December.
Experts also expect exports to rise by 9.5 % from the previous year, after a rise by 10.9 % a month ago, and imports are expected to rise by 10.0 % during the month of January from a rise of 4.5 % in the previous month.
In addition, China will release its data later on Friday on consumer and producer price inflation for the month of January, and these data are expected to show that consumer prices rose by 1.5 % last month, while producer prices are expected to rise. by 4.4%.
It is worth noting that the second economy in the world witnessed a growth of 6.8 % during the last quarter of last year, due to the recovery in the industrial sector and the resilient real estate market in addition to strong export growth.
Fifth: Watch for new monthly job data in Canada
At 13:30 GMT (8:30 a.m. ET) on Friday, Canada is scheduled to release its data on monthly new jobs, and expectations indicated that the Canadian economy will add 10,000 new jobs during January after an estimated increase of 54,500 jobs last December, and the unemployment rate is expected to reach 5.8 % during the previous month from 5.7 last December.
Canada is also scheduled to release its monthly trade figures later this week, in addition to other data on building permits and the country's manufacturing sector index.
It is worth noting that the Canadian Central Bank had raised interest rates for the third time during last month'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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