Important upcoming events and publications

Important upcoming events and publications for January 24 (GMT):

08:30 Germany Preliminary Estimate PMI release often causes markets reaction and impacts on EUR, as it more strongly influences the expectations than final estimate. During the year, the production index falls, indicating a slowdown, but this time analysts are waiting for a small growth.

13:30 The ECB press conference after the monetary policy meeting almost invariably causes EUR volatility spike. Investors and journalist’s attention will be focused on changes of comments tone as it is expected that policy will remain unchanged. The main focus is on the date before the ECB promises not to tighten the policy.

14:45 U.S. Preliminary PMI estimates are interesting compared to those in Europe, as it is also published by Markit Economics. During the previous two months, the indicator noted a slowdown of growth, although it is noticeably higher than for European economies. The drastic indicator decline can weaken USD and increase demand for safe-havens.

See the detailed Economic calendar here