All Eyes On Oil - Weekly Report 15-19/12/14

The plunge in oil prices grabbed the headlines last week, with multiple knock-on effects on currencies and related assets. The trend is still one to watch for binary options traders who can trade on the volatility whether the price moves up or down, says Banc De Binary analyst Lauren Carmouche.

On Monday December 15th, there is market-moving Industrial Production data out of the US at 14:15. The benchmark figure is expected to rise to 0.6 percent from minus 0.1 percent.

On Tuesday the 16th, Cable traders watch out for UK Consumer Price Index data for November released at 09:30. CPI is expected to remain unchanged at 1.3 percent on a monthly basis. At 10:00, Germany announces the results of its ZEW Economic Sentiment Survey for December, previously at the level of 11.5.

Wednesday the 17th brings numerous trading opportunities, starting with the Bank of England’s Interest Rate decision at 09:30, keeping in mind that two members of the MPC voted to hike the interest rate, which is currently at the level of 0.5 percent. At 10:00, the Eurozone releases Core Consumer Price Index data for November, expected to remain at the level of 0.4 percent on an annual basis. The US announces the Consumer Price Index for November, previously at the level of 1.7 percent on a monthly basis. The big event of the day is at 18:00 when the US Federal Reserve releases its Interest Rate decision, Economic Forecast and Monetary Policy Statement. The markets will be watching for any signs that the Federal Reserve will raise interest rates sooner rather than later.

Markit announces its PMI Services report for the US at 14:45 on Thursday the 17th. This benchmark was previously at the level of 56.2 and is expected to rise to 56.8.

Finally for the trading week, on Friday the 19th, Bank of Japan holds its press conference. Later in the day, at 13:30, Bank of Canada releases Consumer Price Index data for November, expected to rise to 2.4 percent from 2.3 percent on a monthly basis.