This week, the markets are looking at a few important events and economic data, led by the FOMC meeting minutes, which FED kept interest rates unchanged. Markets are looking for more hints on the rate hike pace this year. Attention is also drawn to a number of meeting minutes of central banks.
The following are the highlights of the week:
Tuesday - RBA Meeting minutes
The minutes of the Reserve Bank of Australia's latest meeting held earlier this month, which kept interest rates unchanged at 1.5% for the 16th meeting in a row, will be released tomorrow morning.
Wednesday - FOMC Meeting Minutes
The Federal Reserve kept interest rates at its last meeting, which was the last meeting of Janet Yellen as head of the bank, which confirmed that inflation will rise this year, signaling a continuation of the tightening policy under Jerome Powell leadership. Markets will be looking for more comments to determine their position on the US dollar.
In the UK, labor market data will be released, and attention will be focused on wage data as inflation rises and the gap widens. Bank of England Governor Mark Carney and some bank members will also go to parliament to testify on the latest inflation report.
Thursday - British growth data
Britain's second economic growth numbers will be released on Thursday, and it is expected that GDP to grow by 0.5% in the fourth quarter of 2017 on a quarterly basis and 1.5% on yearly basis.
Japan's inflation data is also expected to rise by 0.8% in January following a 0.9% rise in December, the 12th straight month in which inflation is rising.
Also, attention will be focused on the minutes of the ECB's recent meeting, which it kept its monetary policy unchanged. The minutes of the meeting are likely to provide the same message that economic growth is moving at a steady pace as inflation continues to weaken.
Friday - European inflation data
Eurozone consumer price index figures are expected to rise by 1.3% in January, the same as in December. Core inflation is also expected to stabilize at 1%.
