Weekly outlook 16th 21st December

An exciting week ahead starting with the Japanese elections over the weekend, don't miss out on the SmartTradeFX blog keeping you up to date with all the latest forex news and events. Here's a preview of just some of this week's highlights.

Sunday 16th December - Japanese citizens will be going to the polls today to elect a new prime minister. The opposition party is predicted to win the election with an overwhelming majority, and leader Shinzo Abe is intending to raise the inflation target and start a new monetary stimulus. Recently the yen has not reacted well to this news and it could be placed under further pressure this week.

Monday 17th December - The Reserve Bank of Australia will be publishing its most recent minutes which is likely to reveal a slowing economy. It is expected that the AUD/USD will see some lower rates.

Tuesday 18th December - We will see the UK inflation rate from last month after a high of 2.7% was reported in October. A small decline is anticipated but it could be that the BOE will raise interest rates sooner than expected.

Wednesday 19th December - A significant indicator the Euro zone's health, the German IFO business climate results will be revealed on Wednesday. It is expected that sentiment will rebound for the month in line with the investor's confidence survey last week. The Euro could increase upon the news. The Bank of England are also going to be releasing their minutes and the pound could find short-term support if the minutes reveal a unanimous decision amongst policy-makers.

Thursday 20th December - The Bank of Japan's rate decision will take place Thursday following the national elections. Last month interest rates were left unchanged and it is expected to remain this way this month. We will see US Existing Homes Sales data as well as Unemployment Claims; both figures are predicted to improve further this month.

Friday 21st December - Canada's GDP index is forecast to rise 0.1% this month while their Consumer Price Index is predicted to decline by this amount.

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