FX: Week Ahead 01-25-08

The week ahead in the FX Markets with Haley West from Thomson Financial Transcript: Welcome to FX Hub's Look at the week ahead, I'm Haley West European inflation is the focus early Monday morning as the ECB reports money supply figures and Germany unveils CPI data throughout the session. The US new home sales report is due out at 15:00 GMT. Economists expect sales to have stabilized in December. Japan unleashes a wave of data on Tuesday including unemployment and retail sales. Consumer and business confidence are out from France and Italy respectively followed by retail trade data from the Confederation of British Industry. Important durable goods orders round out the calendar for Tuesday. Wednesday, Japan leads off with industrial production, followed by consumer credit and mortgage application data out of the UK. Later, we get the first peek at fourth quarter growth figures from the US. A sharp slowdown to 1.3% annualized is seen in Q4, down from the blistering pace of 4.9% in Q3. The Fed is expected to cut the funds rate once again with the announcement to come at 2:15 Eastern time Wednesday afternoon. Housing starts and construction orders lead off in Japan. German unemployment, consumer prices and sentiment surveys for the Eurozone follow later Thursday. Canadian GDP, US jobless claims; consumption and income data and the Chicago purchasing managers index round out the US calendar. The most important report of the month leads off the month of February Friday morning as the US reports nonfarm payrolls and the unemployment rate. If the employment report deviates drastically in direction from the Fed's course of action on Wednesday, the central bank will be saddled with greater credibility problems, if possible. That's our look at the week ahead. Good trading! I'm Haley West

YouTube | January 25, 2008

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