Out of Asia
For the Aussie Dollar:
It’s another busy week on the economic data front.
January manufacturing sector stats get the week going on Monday ahead of trade and retail sales figures on Thursday and Friday.
While we can expect the stats to influence, the RBA monetary policy decision will also draw attention on Tuesday.
With no moves anticipated, the rate statement will be the key driver.
Building approvals due out on Wednesday should have a muted impact, however.
From elsewhere, private sector PMI figures from China will also provide direction in the week.
The Aussie Dollar ended the week down by 0.92% to $0.7644.
For the Kiwi Dollar:
It’s another quiet week ahead on the economic calendar.
Economic data is limited to 4th quarter employment figures, due out on Wednesday.
With little else for the markets to consider, expect the numbers to influence.
Building consent numbers due out on Thursday should have a muted impact on the Kiwi.
From elsewhere, China’s private sector PMI figures will also provide the Kiwi with direction.
The Kiwi Dollar ended the week up by 0.06% to $0.7193.
For the Japanese Yen:
It is a relatively quiet week ahead.
Finalized private sector PMIs for January are due out ahead of household spending figures on Friday.
Expect the household spending figures to garner the greatest attention in the week.
Ultimately, however, COVID-19 news updates will continue to be the key driver.
The Japanese Yen ended the week down by 0.87% to ¥104.68 against the U.S Dollar.
Out of China
It’s busier week ahead.
The market’s preferred Caixin manufacturing PMI on Monday will set the tone.
On Wednesday, the services PMI will also draw interest as the markets look for a pickup in private sector activity.
Before the start of the week, the NBS private sector PMIs were out on Sunday morning.
The NBS Manufacturing PMI fell from 51.9 to 51.3 in January, with the non-manufacturing PMI falling from 55.7 to 52.4.
Away from the economic calendar, expect COVID-19 news from China to also influence.
The Chinese Yuan ended the week up by 0.83% to CNY6.4283 against the U.S Dollar.
Stimulus talk and foreign policy moves by U.S President Joe Biden will be key in the week.
Following 4th quarter GDP figures from last week, vaccination and infection rates will be a key area of focus.
The U.S administration has pledged 100 million vaccinations in 100 days. A marked pickup in vaccination rates would support riskier assets.
Vaccination rates and availability of vaccines will be key areas of interest.
An upward trend in vaccination rates and a downward trend on infection rates would support riskier assets in the week.
Expect plenty of focus on the U.S and the EU in particular, which continues to face supply issues.
A number of big names deliver results in the week ahead.
From the U.S, key names include but are not limited to:
Alphabet Inc. (Tue), Amazon.com Inc. (Tue), Exxon Mobil Corp….
Go to the news source: The Week Ahead – Economic Data, the BoE, and COVID-19 in Focus