Forex: the first US publications of 2018 will be significant and must be monitored closely (CIBC)

CIBC reveals the publications that must be monitored this week on the US economic calendar:

"With tax reform now secure, markets can once again turn their attention to the economic calendar after the holidays. For the first week of the year, this will be the ISM and NFPs, where we expect declines to more sustainable levels.

However, the most important component of the publication of the employment report will be wage growth, which even though we expect 0.3% m/m, is not expected to change year-on-year.

As the two rate increase dissidents (at the December FOMC) having no more voting rights in 2018, the minutes of this meeting will be monitored for signs of possible other members sharing the same concerns in terms of low inflation."