According to Golden Sachs, the US Federal Reserve will likely raise interest rates four times this year and expects in July that it will start its balance sheet runoff process. Continued progress in the labour market and hawkish signs in the Federal Reserve minutes for December and prompted this view as the US dollar strengthens against the Euro. In the December minutes, officials suggested that they are preparing to move quicker to tighten monetary policy.
Media in Russia has quietened down on its coverage of Ukraine, as US President Joe Biden and his Russian counterpart Vladimir Putin face a crucial week in the potential crisis. With the Russian President keen to stop further NATO membership eastwards, and the US President looking for mediation, both heads of state will be keen to come to an agreement as peace remains on a knife edge.
After recording its biggest weekly gain in a month, Oil has steadied as supplies returned in Libya and Kazakhstan. Brent crude changed little after rising more than 5% last week the highest since late November. Following unrest in Kazakhstan output was restored and Libya production rose after maintenance was completed.
| Date | Region | Release | Previous | Consensus |
| Tuesday 11th January | USD | Fed Chair Powell Testifies | ||
| Wednesday 12th January | EUR | Industrial Production | 1.10% | 0.60% |
| Wednesday 12th January | USD | CPI m/m | 0.80% | 0.40% |
| Thursday 13th January | GBP | MPC Member Mann Speaks | ||
| Thursday 13th January | EUR | ECB Economic Bulletin | ||
| Thursday 13th January | USD | PPI m/m | 0.80% | 0.40% |
| Thursday 13th January | USD | Unemployment Claims | 207k | 213k |
| Friday 14th January | EUR | ECB President Lagarde Speaks | ||
| Friday 14th January | GBP | GDP m/m | 0.10% | 0.40% |
| Friday 14th January | USD | Retail Sales m/m | 0.30% | 0.00% |
| Share Index | Prev. Close | Open |
| FTSE100 | 7485.28 | 7485.28 |
| DAX | 15947.74 | 15999.02 |
| CAC40 | 7219.48 | 7245.21 |