Next week is packed with some of the most awaited data releases. Investors will be offered flash US Q4 GDP report, US PCE data for December or flash PMIs for January from Europe. On top of that, Bank of Canada is expected to deliver a 25 bp rate hike on Wednesday. Last but not least, reports from Tesla, Intel and Microsoft are highlights of next week's earnings calendar. Be sure to watch USDCAD, US100 and DE30 next week!!
USDCAD
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Create account Try a demo Download mobile app Download mobile appThe upcoming week may see USDCAD currency pair become very active. Bank of Canada is expected to announce its next rate decision on Wednesday at 3:00 pm GMT, with a 25 bp rate hike being seen as a base case scenario. Meanwhile, flash US Q4 GDP release on Thursday, 1:30 pm GMT as well as PCE data for December on Friday, 1:30 pm GMT will ensure USD-volatility. Annualized GDP growth is expected to slow below 3% while core PCE is seen staying unchanged at 4.7% YoY. USDCAD launched an upward correction this week but the move was halted near 1.3520 mark on Thursday.
US100
Earnings season on Wall Street is gathering pace and traders will get a chance to look at financials from some major US tech companies next week. Among next week's highlights one can find reports from Microsoft (Tuesday), Tesla (Wednesday) and Intel (Thursday), among others. Netflix, which reported results this week as one of the first big tech companies, surprised positively with higher-than-expected subscriber growth but will other tech stocks show similar surprises? We shall know next week and US100 is sure to react!
DE30
While US traders will focus on GDP data and tech earnings next week, focus in Europe will be on flash PMIs for January. Data will be released on Tuesday and in most cases is expected to show a slight improvement compared to December reading. Such a situation is expected in case of French data (8:15 am GMT) as well as German data (8:30 am GMT) and in both those countries services and manufacturing gauges are expected to remain in contraction territory. DE30 bulls lost some steam last week and PMI data may provide fuel for the next move!
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