FX weekly Out Look GBP, EURJPY , USDJPY

After reaching the highs of GBPUSD 1.66659 the GBP / USD has hesitated and is now pulling back

With a bearish engulfing on the daily chart and a pullback test the GBPUSD falls further at the 

beginning of the week on worst number out from the Manufacturing Purchasing Managers Index

56.7 Actual Consensus 57.0 Previous 57.2

MONDAY: The Manufacturing Purchasing Managers Index (PMI)

Tuesday: Halifax HPI: Tuesday, 4th-7th. This housing inflation indicator is an important gauge of activity in the UK housing industry. 

Wednesday : The British Retail Consortium (BRC) Shop Price Index measures price changes in the popular retail outlets in the UK.

Markit Service PMI captures an overview of the condition of sales and employment.

Thursday : BoE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the GBP. 

Friday: The Industrial Production released by the National Statistics measures outputs of the UK factories and mines. 

EURJPY

Monday:  The Monetary Base

PMI Germany Actual ... Cons: 56.3 Previous 54.3

Tuesday: 10.00 The Producer Price Index (PPI) released by the Eurostat

Wednesday: Jap labour cash Earnings : shows the average income, before taxes, per regular employee. 

Euro : The Retail Sales released by the Eurostat is a measure of changes in sales of the Euro zone retail sector.

USDJPY:

1.      

       Monetary Base: Monday, 23:50. Monetary Base dropped in December to 46.6%, short of the estimate of 55.2%. No significant change is expected in the upcoming reading, as the Bank of Japan maintains its aggressive monetary policy. The estimate for the January release stands at 47.2%.

2.      The Construction Spending released by the US Census Bureau is an indicator that measures the total amount of spending in the US on all types of construction.

3.      Actual... Cons: 0.2% Previous 1.0%

4.      The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. Actual ... Cons 56 Previous 57

5.      10-year Bond Auction: Tuesday, 3:45. The average yield on 10-year bonds continues to creep upwards, with the previous yield rising to 0.72%. No change is expected in the January release.

6.      The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non durable goods  Actual... ONs -1.9%  Previous 1.8%

7.      Average Cash Earnings: Wednesday, 1:30. This indicator is an important gauge of consumer spending. The indicator jumped to 0.5% last month, its biggest gain in almost a year. The markets are expecting the upward trend to continue, with the January estimate standing at 0.7%.

8.      The ISM Non-Manufacturing Index released by the15.00  Institute for Supply Management (ISM) shows business conditions in the US non-manufacturing sector. 

9.      Actual ... Cons 53.8 Previous 53.0

10.    30-year Bond Auction: Thursday, 3:45.  The average yield on 30-year bonds has been quite steady, with a yield of 1.67% in December. No change is expected in the upcoming release.

11.    13.00 The Counting Jobless Claims released by the US Department of Labor measure the number of individuals who are unemployed and are currently receiving unemployment benefits. actual cons - Previous 2.991M

12.    Friday: 13.00pm : The Unemployment Rate released by the US Department of Labor is the number of unemployed workers divided by the total civilian labor force.

13.    Actua; ... cons:6.7% Previous 6.7%

14.    Leading Indicators: Friday, 5:00. Leading indicators is based on 11 economic indicators. Still, it is considered a minor event since most of the data has been previously released. The indicator has been steadily improving and reached 110.8% last month. Further improvement is expected in the January reading, with the estimate standing at 111.9%.