This week saw further escalation in the Middle East, with US and UK carrying out retaliatory airstrikes against Houthi targets in Yemen. Oil will surely remain on watch in the coming days, but there is also a number of reports scheduled for the next week that may move other markets. Be sure to watch EURUSD, CHN.cash and GBPCAD in the week ahead!
EURUSD
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe main currency pair may see some moves throughout the next week as traders will be offered top-tier releases from Europe and the United States. Flash German GDP report for 2023 will be released on Monday (7:00 am GMT), US retail sales for December on Tuesday (1:30 pm GMT), ECB minutes on Thursday (12:30 pm GMT) and flash University of Michigan data for January on Friday (3:00 pm GMT). EURUSD has been trading mostly sideways this week, and data that will be released next week may help the pair find direction.
CHN.cash
Chinese indices continue to struggle in the new year. CHN.cash deepened a year-long downward impulse in January 2024 and dropped to the lowest level since November 2022. Chinese equities may get a chance to recover part of the losses next week with release of flash GDP report for Q4 2023 on Wednesday, 2:00 am GMT. Monthly activity data for December, including retail sales and industrial production, will be released simultaneously.
GBPCAD
GBPCAD is one of the FX pairs that may also see some moves next week. Release of UK jobs data for November (Tuesday, 7:00 am GMT), UK CPI data for December (Wednesday, 7:00 am GMT) and UK retail sales data for December (Friday, 7:00 am GMT) will keep GBP moving. Meanwhile, CAD traders will focus on Canadian CPI print for December (Tuesday, 1:30 pm GMT) and Canadian retail sales data for November (Friday, 1:30 pm GMT).
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
