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The American rate decision, MPC Meeting Minutes in the UK and much more important events are on the agenda. .Let’s see what awaits us today.

World Economic Forum (WEF) Annual Meetings. WEF annual meetings are held in Davos and attended by central bankers, prime ministers, finance ministers, trade ministers, and business leaders from over 90 countries. Most meetings are open to the press and officials usually talk with reporters throughout the day. Comments from central bankers and other influential officials can create significant market volatility

In the US, FOMC Statement, primary tool the FOMC uses to communicate with investors about monetary policy and most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.

Later in the US, Federal Funds Rate, is about to be 0.25%. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.

More in the US, New Home Sales, new single-family homes that were sold during the previous month is about to rise by 12K. Leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect.

More over in the US, Crude Oil Inventories, barrels of crude oil held in inventory by commercial firms during the past week; is due to remain 2.6M like on the previous week. It influences the price of petroleum products which affects inflation

For more on USD/CAD, read the  Canadian dollar forecast.

In Great Britain, MPC Meeting Minutes, It’s a detailed record of the BOE MPC’s most recent meeting, providing in-depth insights into the economic conditions that influenced their vote on where to set interest rates, and offering clues on the outcome of future votes. 1 (how many voted to increase rates) 0 (how many voted for a rate reduction), 8 (how many voted to hold rates).

Read more about the Pound in the  GBP/USD forecast.

In Australia, MI Leading Index, This index is designed to predict the direction of the economy. Is about to be 0.3%.

For more on the Aussie, read the  AUD/USD forecast.

In New Zealand, Reserve Bank of New Zealand (RBNZ); Rate Statement, It’s among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions

More in New Zealand, Official Cash Rate, Interest rate at which banks lend balances held at the RBNZ to other banks is due to be 3%. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future;

In Japan, Bank of Japan (BOJ)m It contains the statistical data that the BOJ Policy Board members evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank’s viewpoint;

More in Japan, Trade Balance, value between imported and exported goods during the reported month, is about to rise by 0.1T. Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers

That’s it for today. Happy forex trading!