Month: January 2026

Markets head into the final week of January facing one of the densest macro calendars of the month. The eurozone delivers a full slate of GDP releases and regional CPI prints, the United States navigates a high‑impact cluster including Durable Goods, ADP, the Fed decision, and Jobless Claims, while Australia and Canada take the spotlight with inflation data and the BoC rate announcement. With multiple regions releasing top‑tier indicators within tight windows, volatility is expected to rise across major FX pairs. This week’s sentiment analysis breaks down the key drivers and technical structures shaping EURUSD, GBPUSD, USDJPY, USDCAD, USDCHF, AUDUSD, GBPJPY, and CADJPY.

Markets enter the week of January 19–23, 2026 with a familiar mix of themes: a structurally weaker U.S. dollar, persistent focus on inflation dynamics in Europe and the UK, and growing attention on central bank signaling from the Bank of Japan and the Bank of Canada.

This week’s calendar is dense but well‑structured:

EUR: December CPI

GBP: Employment data and December inflation

CAD: CPI and Retail Sales

JPY: Inflation and the BoJ rate decision

USD: GDP, Jobless Claims, PCE, and Michigan Sentiment

As a result, major pairs are likely to trade in a regime where USD weakness remains the core narrative, but local stories in GBP, CAD, and JPY can temporarily dominate price action. Below is our updated weekly sentiment outlook for the same set of pairs as last week, including revised swing and intraday levels.

The first full trading week of 2026 brings a mix of European inflation data, Australian CPI, and a heavy U.S. macro lineup led by Jobless Claims and NFP. With the dollar softening and risk sentiment improving, major currency pairs are entering the week with clear directional biases. Here’s our forward‑looking sentiment and technical outlook for January 5–9.