Week 9 data: Oil and gold. How they might be affected in the short term?


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


  • Japanese inflation rate at 23:30 GMT. The expectation for January is that the rate could go down to 2.1% from the previous 2.6%. This might be somewhat bearish news to the market participants trading the yen.

  • Preliminary German inflation rate at 13:00 GMT. The market consensus for February is for a decline of the figure of around 0.3% reaching 2.6%. If this is broadly accurate then it could probably influence the following day’s European inflation figure.
  • The US core PCE price index for January is expected to increase to 0.4% against the previous 0.2%. If these figures are broadly accurate then it might create some support for the Dollar whereas in the event of a more soft PCE reading the Dollar might weaken.

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