Forex weekly outlook January 21-25

Keep up to date with all the news with the SmartTradeFX blog! Don't miss out on the big events this week that will move the markets for better or for worse. Let's start with Tuesday 22nd - the Bank of Japan is set to issue its rate decision. With Japan's new prime minister promising stronger action and quantitative easing, the BOJ is under pressure to act accordingly. At 10:00 we will see Germany's ZEW economic sentiment where we are expecting a further rise to 12.2. Wednesday 23rd - the UK will be releasing at 9.30 its unemployment data. In November, the amount of citizens claiming unemployment benefits dropped with the number of people with jobs hitting a record high. A small rise of 800 claims is expected this time. At 15:00 Canada will be announcing their rate decision. Last month it was at 1.0% and there have been no hints of raising or dropping this rate as of yet. Thursday 24th - at 13:30 we will see the amount of unemployment claims in the US. Last week this figure was at the lowest level in five years, and we are expecting an increase this week. Friday 25th - a busy end of the week with UK GDP data which is expected to decline 0.2%, Canadian inflation data which is expected to drop 0.2% and US New Home Sales which is expected to increase to 383,000 now.

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