Daily Outlook

Important upcoming events and publications

Important upcoming events and publications for January 31 (GMT):

10:00 Euro area GDP preliminary estimate may have a visible impact on EUR. Economists, on average, are expecting to see the slowdown from 1.6% to 1.2% y/y, which would be the slowest growth from 2014. Until the release of data for the whole Euro-region, indicators for individual countries will be released, which could also trigger EUR volatility. In our view, there are risks of even more rapid deceleration.

13:30 Canada GDP is expected to fall by 0.1% in November to 1.6% y/y. Weaker data can further harm CAD, underlining the economic weakness. At the same time released producer prices index could also affect prices.

13:30 U.S. Initial unemployment claims are in the market focus in the run-up to the release of Friday employment report. A week earlier this figure fell to 199K, which was a very good result. Another portion of the strong data (low claims number) are able to support the USD, tuning markets on healthy employment growth.

See the detailed Economic calendar here

Source: FxPro

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