Weekly Game Plan - 22.1.17

You can always find my weekly analysis in the FXRENEW Blog each week, along with articles and thought leadership pieces 

Here is this week's Game Plan:

Reminder: US politics, and in particular Trump's first executive orders, will overshadow economics this week so it might make sense to leave the USD alone this week. Earnings season will also be a major focus over the course of the week as 103 S&P500 firms release 

USD: Trump's first 100 days start this week so be cautious as headlines & policy will affect the USD. Data wise, Q4 GDP will be the main focus (Fri) along with Core PCE (also Fri). 

EUR: Dovish Draghi did little to keep the Euro suppressed. This week we will see PMIs (Tue) and GER IFO (Wed).

GBP: The U.K. Supreme Court delivers its verdict on Article 50 (Tue) and its almost certain that they will support Parliament and approve triggering article 50. This will set the tone for the Pound until GDP (Thur). 

CAD:  The Loonie is still bearing the effects of Bank of Canada's talk of a rate cut. But the market this week will also be focused on any implications of the US pulling out of NAFTA (if they do, and what the tone will be).

Asia:  The main focus will be on the implications of the US pulling out of NAFTA (if they do, and what the tone will be) but don't forget CPI is released from both Australia and New Zealand (Wed) but shouldn't alter either Central Bank's stance.

It's tricky going into the week as Trump's executive orders can throw a wrench in current trends. However, before that happens, Cad weakness is the most evident thing and it's a basket case vs. Gbp, Aud and Euro. 


Good Luck!