There's plenty on the schedule on the last day of January. Let's take a closer look.
German Retail Sales for December are up first at 7 AM. Sales slipped unexpectedly in November, partially reversing a strong 2.5% gain the previous month.
European Central Bank President Mario Draghi will be giving a closely watched speech at 8. He will deliver the opening remarks at a joint ECB and European Commission conference in Frankfurt.
The closely watched German Labour Report for January follows at 9. Unemployment fell more than anticipated in December, pointing to accelerated improvement of the German economy.
UK Mortgage Approvals for December are out at half past 9. The number of approvals has been growing for the past 3 months and now stands at a 9-month high.
A number of news releases regarding the Euro Zone economy will be available at 10, including the high importance preliminary fourth quarter GDP. European economy continued growing at a steady point 3% pace in the third quarter.
The highly anticipated preliminary January CPI comes at the same time. The December report showed some much-appreciated growth as the annual inflation rose by half a percentage point on the back of higher energy prices.
And December Unemployment Rate is out at this time as well. The rate has stood at the same 9.8% level for the past 2 months, and it is the lowest reading in 7 years.
Coming up next at 1:30 PM GMT is a high importance release for the Loonie Dollar traders, namely, Canadian November GDP. The October reading showed an unexpected and disappointing contraction, but this release is expected to show a return to growth.
Yet another closely watched release, the US Consumer Confidence for January, follows at 3. Consumer confidence continued to improve in December from the already-high November reading of 109.4.
Kiwi Dollar traders may want to pay close attention to the New Zealand fourth quarter Labour Report, which is out at quarter to 10. The third quarter report surprised on the upside as unemployment rate reached its lowest level in 7 years.
Australian PMI for January will be available at half past 10. The Index has stood in the positive territory for the past 3 months.
And the closely watched Chinese PMI for January concludes this busy schedule at 1. Both the manufacturing and services PMIs eased in December, but they still indicated expansion in their respective sectors.
I'm Kiays Khalil and this was the Economic Calendar for Tuesday, the 31st of January. Wednesday brings the latest Fed statement, so make sure you check back.
Video made by Dukascopy specialists
