Three markets worth watching next week (14.01.2022)

4:22 PM January 14, 2022

Comments from Fed members were the main drivers of moves on the global markets this week. While Fed speak will always be in the center of the market's attention, there are other events scheduled for next week that will capture investors' focus. Be sure to watch US100, EURJPY and USDTRY in the coming week! 


Nasdaq-100 (US100) was one of the worst performing Wall Street indices this week. The recovery move from the beginning of the week was erased as more and more hawkish stance of Fed members dented the outlook for tech shares. US100 is threatening to make a more decisive break below the 15,550 pts support. Wall Street earnings season is slowly getting started and Netflix will be one of the first Nasdaq-100 members to report results after the close of Thursday's session next week. However, will earnings be enough to break away from tightening-induced gloom?


The Bank of Japan is set to announce monetary policy decisions on Tuesday during the Asian session. No change in rates is expected, but economists see a chance for the BoJ to adjust its view of inflation risks for the first time since 2014, what will have an impact on its future policy decisions. ECB minutes are also due next week (Thursday, 12:30 pm GMT). The ECB announced the expansion of its APP programme at its latest meeting and voiced concerns over risk to growth. EURJPY pulled back this week amid inability to break above the 131.40 zone.


The situation on the Turkish lira market stabilized after a volatile ending of 2021. However, elevated volatility may return to the TRY market next week as CBRT is set to announce its next monetary policy decision on Thursday, 11:00 am GMT. Markets expect Turkish central bankers to leave rates unchanged this time after announcing that room for further rate cuts may have run out. USDTRY traded sideways in the 13.60 area recently. The pair became somewhat more active at the end of this week, but moves were nowhere as big as in December.


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