FX.co ★ Week Ahead - Feb 2nd

The first week of February is poised to showcase distinctive movements in global markets, continuing the trend of 2023, which has been highlighted by unusual volatility in the metals sector and concerns about potential dollar devaluation. This period also includes the nomination of Kevin Warsh as the new Federal Reserve Chairman by US President Trump. Significant economic data will be released, with the Bureau of Labor Statistics (BLS) providing its pivotal jobs report, complemented by insights from the JOLTS, ADP, and Challenger reports, offering a comprehensive view of the labor market. Key US indicators, such as the ISM Purchasing Managers' Indexes (PMIs) and the University of Michigan consumer confidence index, will also attract attention. On the corporate earnings front, Alphabet and Amazon are scheduled to continue their earnings calls as part of the Magnificent 7 companies. Additionally, firms like AMD, Palantir, and Qualcomm are expected to provide updates on their speculative investments in artificial intelligence. In terms of monetary policy, the European Central Bank, Bank of England, and Reserve Bank of Australia will announce their latest rate decisions, with the Eurozone publishing its inflation figures. In Asia, China's official and broader PMIs will be in the spotlight.