• Home
• /
• Newsroom
• /
• The Week Ahead: 30th January – 3rd February 2023

The Week Ahead: 30th January – 3rd February 2023

Overview for The Week Ahead

It’s set to be an action-packed week as three of the world’s largest central banks hold policy meetings.

While the Federal Reserve is expected to slow the pace of interest rate hikes the European Central Bank and the Bank of England are both expected to hike rates by 50 basis points. Friday’s U.S. jobs report will also be in the spotlight and markets in China are re-opening after the Lunar New Year holidays.

The BOE, the first of the major central banks to begin hiking rates, is expected to deliver its tenth-rate hike since December 2021 on Thursday.

Cryptocurrency prices rose on Monday, with the biggest coins in line to complete a month of strong gains buoyed by signs that the US Federal Reserve will slow the pace of its interest rate increases.

Bitcoin traded at $23,743.71 on Monday, up 2.2 per cent from the previous day, according to CoinGecko. It has plunged from an all-time high of nearly $70,000 in November 2021. Prices of ether added 2.3 per cent.

Chinese financial markets will return after the week-long Lunar New Year holidays.

PMI data on Tuesday will likely show some impact of China’s reopening with service sector activity expected to rebound into expansion territory. The manufacturing sector is expected to remain in contraction, largely due to the timing of the New Year holiday, and next month should see a strong rebound.

Have your trading charts ready!

This Week’s High Impact Events

The times below are GMT +2.

Monday 30^th January

• No High Impact Events

Tuesday 31^st January

• 15.30 – Canada – GDP m/m

Potential instruments to Trade: CAD Crosses. 

• 16.45 – US – Chicago PMI

Potential instruments to Trade: USD Crosses. 

• 17.00 – US – CB Consumer Confidence

Potential instruments to Trade: USD Crosses. 

• 23.45 – New Zealand – Employment Change q/q & Unemployment Rare

Potential instruments to Trade: NZD Crosses. 

Wednesday 1^st February

• 12.00 – Europe – CPI Flash & Core CPI Flash Estimate y/y

Potential instruments to Trade: EUR Crosses. 

• All-Day – OPEC-JMMC Meetings

Potential instruments to Trade: ALL Crosses. 

• 15.15 – US – ADP Non-Farm Employment Change

Potential instruments to Trade: USD Crosses. 

• 17.00 – US – ISM Manufacturing PMI & JOLTS Job Openings

Potential instruments to Trade: USD Crosses. 

• 21.00 – US – FOMC Statement, Federal Funds Rate

Potential instruments to Trade: USD Crosses. 

• 21.30 – US – FOMC Press Conference

Potential instruments to Trade: USD Crosses. 

Thursday 2^nd February

• 14.00 – UK – BoE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Statement, Official Bank Rate

Potential instruments to Trade: GBP Crosses. 

• 15.15 – Europe – Main Refinancing Rate, Monetary Policy Statement

Potential instruments to Trade: EUR Crosses. 

• 15.30 – US – Unemployment Claims

Potential instruments to Trade: EUR Crosses. 

• 15.45 – Europe – ECB Press Conference

Potential instruments to Trade: EUR Crosses. 

• 17.15 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses. 

• 19.30 – Switzerland – SNB Chairman Jordan Speaks

Potential instruments to Trade: CHF Crosses. 

Friday 3^rd February

• 10.30 – Switzerland – Gov Board Member Maechler Speaks

Potential instruments to Trade: CHF Crosses. 

• 15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate

Potential instruments to Trade: USD Crosses. 

• 17.00 – US – ISM Services PMI

Potential instruments to Trade: USD Crosses. 

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

We are Errante. Trading made personal.

Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038].

To find out more about Errante, visit https://errante.io/.

• Share with a Friend