In this week news from the US will be enough. But the significant data which can affect the US currency, we can note only the data of the real estate market and the report of unemployment claims. In other countries there will be more important news, therefore they will influence to the main market movements.
Inflation in the European Union
Trading week will open the data of the consumer price index in the euro area. According to Mario Draghi, the weakening of inflation is a temporary factor. If his words are confirmed today’s report, the euro may move to update the annual highs.
Inflation in the UK
On Tuesday, will be published block of data producer prices and consumer price indices in the United Kingdom. The current level of inflation in Albion is even higher than required. Therefore, the decline of index will benefit for the economy, and further growth, though pushing the pound towards strengthening in the short term, will cause serious concerns in the Bank of England.
Decision of the Bank of Japan
Unlike its colleagues, the Bank of Japan does not consider possibility the reduction of the asset repurchase program or raising interest rates. Therefore, on Thursday, no one expects changes in the monetary policy of the Japanese regulator. Only new plans and forecasts of the Bank of Japan will affect to the yen.
Meeting of the European Central Bank
Later, the European Central Bank will announce its decision about monetary policy. All are interested, will be discussed the topic of reducing the quantitative easing program or not, at the ECB meeting. The European regulator gradually leads to this issue, so it is possible that markets will hear new hints, which will certainly lead to a new strengthening of the single currency.
Inflation in Canada
Complete week the data from Canada. According to the expectations of the Bank of Canada, the consumer price index may fall. In addition to this, forecast for retail sales are also negative, that could lead to a decrease of the Canadian dollar at the end of the trading week.