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Week Ahead: US and UK Economic Data in Focus

January 15, 2024

In the fast-paced world of trading, staying vigilant and well-informed is paramount for success. The upcoming week is filled with crucial economic events that traders should closely monitor to navigate the markets effectively. From employment figures in the UK to price trends in Canada and inflation rates worldwide, each data point narrates a compelling story. The canvas of our economic puzzle extends to include US retail sales and Australian employment statistics, offering valuable insights that guide our understanding of the global financial terrain.

UK Claimant Count Change (16 January 2024)

Keep an eye on the UK Claimant Count Change, set to be released on January 16, 2024. After witnessing an increase from 8,900 to 16,000 in November, expectations are that the figure will rise further to 18,100 in the upcoming release.

Canada Monthly Consumer Price Index (16 January 2024)

An additional event in January 16, Canada unveils its Monthly Consumer Price Index (CPI). In November 2023, consumer prices in Canada defied expectations by rising 0.1%, contrary to the anticipated 0.1% decline. However, the December 2023 data, expected to be released on January 16, 2024, forecasts a 0.3% decline in the monthly Consumer Price Index.

UK Annual Consumer Price Index (17 January 2024)

On January 17, 2024, the focus turns to the UK Annual Consumer Price Index. After a slowdown to 3.9% in November 2023 from 4.6% in October, analysts anticipate a further decrease to 3.8% in the December 2023 data.

US Retail Sales (17 January 2024)

Discover the trajectory of US retail sales on January 17. Following an unexpected 0.3% increase in November 2023, the upcoming release is projected to show a further uptick, with an expected growth of 0.4% in December 2023.

Australia Employment Change (18 January 2024)

Turn your attention to Australia on January 18, as the Employment Change data unfolds. After a notable increase of 61,500 in November 2023, the forecast for December 2023 suggests a more modest rise, with expectations set at 18,000.

UK Retail Sales (19 January 2024)

As we approach January 19, anticipation builds for the release of UK Retail Sales data. Despite a robust 1.3% month-over-month growth in November 2023, December 2023 is expected to show a contraction of 0.5%.

US Prelim University of Michigan Consumer Sentiment (19 January 2024)

Closing out the week, all eyes will be on the US preliminary consumer sentiment from the University of Michigan for January 19. Projections indicate a slight dip to 69.6 from the previous month’s 69.7 in December 2023, offering insights into the mood of the American consumer.