This week will not be rich in data and emotions, enabling market participants to focus on analysis and forecasts.
CAD: under pressure
Canada is set to release January’s statistics on inflation and the new housing price index. Robust reports will allow the CAD, which is under pressure, to improve its position.
USD: focus on the Fed again
The US Federal Reserve will publish minutes of the previous meeting, with market participants typically scrutinising this document for any hints about the regulator’s future actions, especially a rate cut in May. The USD maintains a stable position.
EUR: figures and minutes
The eurozone is gearing up to release February’s manufacturing and non-manufacturing PMIs. The data may be stronger than January’s statistics, thereby bolstering the EUR. The ECB will publish minutes of the previous meeting, but they are unlikely to provide any new information.
GBP: awaiting support
The UK is set to present composite PMI and services PMI data, with robust statistics able to provide support for the GBP exchange rate.
NZD: upward movement
New Zealand will provide retail sales data for Q4 2023. The statistics will give insights into actual consumer activity and will help assess the outlook for the Reserve Bank of New Zealand’s monetary actions. The NZD exchange rate has been rising for the third consecutive session and may maintain its upward momentum.
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