Last week we focused mostly on the ECB meeting and data from the US labour market and inflation rate. Let's take a look at them together.
USD
The number of claims for unemployment benefits unexpectedly rose to 230 000 last Thursday. Unemployment claims unexpectedly rose to 230,000 last Thursday. The figure remained well above the average of earlier this year, reinforcing the ongoing trend of a softening labour market. This data also helped to some extent to push gold (XAU/USD) to a new all-time high.
What's in store for us this week?
Monday: PPI in Switzerland
Tuesday: US retail sales, Canadian inflation rate
Wednesday: UK and Eurozone inflation rates, Fed monetary policy meeting
Thursday: New Zealand GDP, Australian labour market, BoE monetary policy meeting, US jobless claims
Friday: Japanese inflation rate and BoJ meeting, UK and Canadian retail sales
Looks like a busy week. Apart from inflation and labour market data, we will mainly focus on the three central bank meetings (Fed, BoE, BoJ).
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