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π± Target levels and forecast for the week 12.02. β 16.02.
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The main topic of the week is British statistics, which should finally push the pound out of the flat. A strong drop in wages is expected in tomorrow's labour market report, while inflation forecasts are more positive. The forecast for UK GDP for the 4th quarter is negative, so even zero dynamics will support upward momentum, and retail sales should confirm the pound's upward reversal.
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In the US, the focus will be on CPI and PPI inflation, which will have a strong impact on the debt market. Banks expect a fall in overall CPI inflation and retail sales due to lower energy prices and a decline in annual core inflation by 0.1%. If actual data is worse or at the same level as forecast, the dollar will continue to fall.
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Asia celebrates the Lunar New Year β stock exchanges in China and Hong Kong are closed until the end of the week, and there is no trading in Japan today. Liquidity for Asian assets will be low, but statistics for the Aussie and the yen still require special attention.
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Recall the fundamental events that you need to pay attention to (GMT 0 time):
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Tue, 13
Earnings Dates & Reports:Coca-Cola, Shopify, Airbnb, Moody's. Biogen
GBP: Labor market statistics (07:00)
EUR: ZEW Economic Sentiment (10:00)
USD: OPEC Monthly Report (12:00); Core CPI, CPI (13:30); API Weekly Crude Oil Stock (21:30)
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Wed, 14
GBP: CPI (07:00); BoE Gov Bailey Speaks (15:00)
EUR: GDP, Industrial Production (10:00)
USD: Crude Oil Inventories (+Cushing) (15:30)
JPY: GDP (23:50)
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Thu, 15
AUD: Labor market statistics (00:30)
JPY: Industrial Production (04:30)
GBP: GDP, Industrial Production, Trade Balance (+ Non-EU) (07:00)
EUR: ECB President Lagarde Speaks (08:00); Trade Balance (10:00)
USD: IEA Monthly Report (09:00); Retail Sales, Initial Jobless Claims (13:30); Industrial Production (14:15)
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Fri, 16
GBP: Core Retail Sales (07:00)
USD: PPI (13:30)
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For more news β see Economic Calendar.
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Profits to yβall!