Forex Charts
FX Daily
Bundesbank Vice President Sabine Lautenschläger is scheduled to testify before the European Parliament’s Economic and Monetary Affairs Committee at 19:00 this evening on her nomination to the ECB board where she replaces Jörg Asmussen.
Swedish Inflation and upward pressure on EUR/DKK
In Sweden, the week ahead is set to peak on Tuesday as Statistics Sweden publishes December 2013 inflation. It looks as if CPIF inflation in December will fall slightly short of the Riksbank’s forecast, at 0.5% y/y instead of 0.6% y/y.
FX Daily
Focus will be on the US employment report for December and we expect it to be strong. We expect non-farm payrolls to have increased by 205,000 in December mainly driven by
USDJPY – wave-(4) correction expected to form range/ mark time
The divergence in momentum between the tops of wave-3 & 5 (12/3 & 1/2) do suggest that a larger wave-(3) rally from October is complete.
USDCAD – completing massive weekly base; can still see test of 1.0603
$CAD is breaking out of a massive bullish basing pattern but we still need to see 2 weekly closes above the 1.07 level to confirm that the broader projection towards 1.17/19 is underway.
FX Daily
The main event is the ECB meeting, where inflation will be top of the agenda again after core inflation reached an all-time low of 0.7% in December.
FX Daily
In the euro area we expect retail sales to increase 0.6% m/m in November helped by German retail sales. This is also suggested by survey indicators, which point to higher euro GDP growth in Q4 compared to Q3.
FX Daily
In the euro area flash inflation will be released. We have revised our forecast for euro inflation up to 0.7% as the German HICP was not as low as we had expected.
FX Daily
Euro PMI services are due for publication. The first release of the Spanish and Italian figures is expected to confirm the stronger growth in the periphery countries.
FX Daily
Market movers today * Euro area money supply data covering November are due for publication.
FX Daily
Market movers today * In Europe we expect further improvement in manufacturing PMIs in Italy and
FX Daily
It appears we have a very quiet day ahead of us, with no major data releases in the calendar today. Risk sentiment is slightly positive in financial markets as data have been better than expected and