Week 8 data: Gold and GBPUSD. What’s in it for the short-term outlook?


Exness Representative
This preview of weekly data looks at XAUUSD and GBPUSD where economic data coming up later this week are the main drivers in the markets for the near short-term outlook. The most important economic data for this week are:


  • RBA meeting minutes at 12:30 AM GMT are anticipated by the market participants to get a glimpse of the short-term action plan of the Reserve Bank of Australia. More dovish commenting might be seen as a weakness of the Aussie dollar creating some minor push on the price to the downside and vice versa.
  • Canadian Inflation rate at 13:30 GMT. The anticipation here is for a decline of around 0.2% reaching the figure of 3.2%. In the event of this anticipation becoming reality then the loonie might see some short-term losses against its pairs.
  • Japanese Balance of trade at 11:50 PM GMT where the expectations are for a decline in the figure from ¥62.1 billion to ¥-1,925.9 billion for the month of January. If the expectations are correct then the yen could face some pressure against the currencies traded against it.
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