Important upcoming events and publications

Important upcoming events and publications for January, 3 (GMT):

09:30 U.K. Construction PMI is able to influence on the pairs with GBP. Activity in the construction and housing is a reliable barometer of business activity in Britain. It is expected to decline from 53.4 to 52.9, reflecting slowing growth. Data below expectations can bring pressure to the British currency.

13:15 U.S. ADP Employment report attracts the attention of market participants and can increase USD volatility in case of deviation from expectations (179k). The weak data would strengthen the nervousness, assuming the United States economy slowdown. Strong data, by contrast, are likely to spur demand for the dollar.

15:00 U.S. Manufacturing ISM is one of the most important indicators of business activity in the country. The publication may seriously spur volatility in pairs with USD and on stock markets. It is expected to decrease from a very high level at 59.3 to 58.2. A more dramatic decline could prove unfavorable to the dollar.

See the detailed Economic calendar here