We have a busy week ahead – Nomura

By FXStreet FXStreet (Guatemala) – Analysts at Nomura offered a break-down of the week aheads’ headline Events (all times are GMT).

Key Quotes:

“1. US: Personal Income and Spending (Monday 13:30), Employment report (Friday 13:30), Trade balance (Friday 13:30) 2. China: Manufacturing PMI (Monday 01:00), FX Reserves (Sunday) 3. Europe: UK PMI (Monday and Wednesday), Germany factory orders (Friday 07:00) 4. Central banks: RBA (Tuesday 03:30), Kuroda speech (Wednesday 02:30), Draghi speech (Thursday 08:00), BOE (Thursday 12:00)”

“A data heavy week for the U.S. with data on employment, prices, trade and consumer spending. We forecast ADP private employment gained an additional 180k jobs in January, implying that total NFP should gain around 185k jobs. Furthermore, we expect the unemployment rate to tick down by 0.1pp to 4.9% and average hourly earnings to grow by a solid +0.31% m-o-m, providing some payback from weakness in the prior month. NFP increased by almost 300k in December, but with flat average hourly earnings, we forecast a steadying in the growth of personal income to 0.4% in December.

“In addition to the 0.3% decline in core retail sales in December, there was likely a sizable drop in energy spending due to lower than usual heating demand from a warm …read more

Source:: FX Street