| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 00:00 | Eurozone | Eurogroup Meetings | | | | |
| 02:00 | China | Industrial Production y/y | December | 3.8% | 3.6% | 4.3% |
| 02:00 | China | Retail Sales y/y | December | 3.9% | 3.7% | 1.7% |
| 02:00 | China | Fixed Asset Investment | December | 5.2% | 4.8% | 4.9% |
| 02:00 | China | GDP y/y | Quarter IV | 4.9% | 3.6% | 4.0% |
| 04:30 | Japan | Tertiary Industry Index | November | 1.9% | | 0.4% |
During today's Asian trading, the US dollar consolidated against major currencies after a noticeable increase on Friday.
The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) decreased by 0.04%.
Investors are gradually preparing for the Fed meeting, which will take place next week. Meanwhile, today the Central Bank of China has reduced the cost of borrowing to support the economy.
Later this week, the Bank of Japan will hold a meeting, as well as British inflation data and Australian labor market data will be published.
The Federal Reserve System is approaching the moment when it will have to raise the interest rate, Chairman of the Federal Reserve Bank of New York John Williams said Friday.
The Fed had to accelerate the winding down of the bond repurchase program, and "the next step to reduce the volume of economic stimulus will be a gradual increase in the base rate from the current very low level to more normal values," Williams said. "Given the clear signals that the US labor market is very strong, we are close to making such a decision," he said.
Given that there are no important US data or speeches by Fed representatives scheduled this week, it is unlikely that anything can significantly change the expectations of experts regarding the rate hike by the Fed, experts say. Currently, most analysts expect the Fed to raise the rate in March.
Pressure on the US dollar this week may be exerted by an increase in risk appetite in financial markets due to weakening concerns about the potential consequences of the COVID-19 strain "omicron" for global economic activity, experts say.