UPCOMINGEVENTS:Monday: German IFO.Tuesday: US Consumer Confidence.Wednesday: Australia Monthly CPI.Thursday: Switzerland Q4 GDP, US Durable Goods Orders, US Q4 GDP (2nd estimate), US Jobless Claims.Friday: Tokyo CPI, France CPI, Germany CPI, Canada GDP, US PCE.TuesdayThe US ConsumerConfidence is expected at 103.0 vs. 104.1 prior. The last report showed Consumer Confidence dropping for the secondconsecutive month although it remained in the range created since 2022.Dana M. Peterson,Chief Economist at The Conference Board said: “all five components of the Indexdeteriorated but consumers’ assessments of the present situation experiencedthe largest decline. Notably, views of current labour market conditions fellfor the first time since September, while assessments of business conditionsweakened for the second month in a row.” “Meanwhile,consumers were also less optimistic about future business conditions and, to alesser extent, income. The return of pessimism about future employmentprospects seen in December was confirmed in January.”WednesdayThe AustralianMonthly CPI Y/Y is expected at 2.5% vs. 2.5% prior. Inflation has beengradually falling towards the RBA’s target with the latest Australian Q4 CPI showing underlying inflation insidethe 2-3% target band on a 6-month annualised basis. As a reminder, theRBA cut interest rates by 25 bps as expected last week but it wasaccompanied by a more hawkish than expected guidance. We’ve also got the Australian Employment report and onceagain the data showed a solid labour market. ThursdayThe US JoblessClaims continue to be one of the most important releases to follow every weekas it’s a timelier indicator on the state of the labour market. Initial Claimsremain inside the 200K-260K range created since 2022, while Continuing Claimscontinue to hover around cycle highs although we’ve seen some easing recently. This week InitialClaims are expected at 220K vs. 219K prior, while there’s no consensus at thetime of writing for Continuing Claims although last week we saw an increase to1869K vs. 1845K prior. FridayThe Tokyo Core CPIY/Y is expected at 2.3% vs. 2.5% prior. The JPY strengthened recently on morehawkish comments from BoJ officials, and solid wage growth and inflation data.Last Friday, the JPY got another boost on some risk-off moves triggered by theUS stocks selloff following the weaker than expected US PMIs and long-terminflation expectations in the UMich survey jumping to a new 30-year high.The US PCE Y/Y isexpected at 2.5% vs. 2.6% prior, while the M/M measure is seen at 0.3% vs. 0.3%prior. The Core PCE Y/Y is expected at 2.6% vs. 2.8% prior, while the M/Mfigure is seen at 0.3% vs. 0.2% prior. Forecasters can reliablyestimate the PCE once the CPI and PPI are out, so the market already knows whatto expect. Therefore, unless we see a deviation from the expected numbers, itshouldn’t affect the current market’s pricing. This article was written by Giuseppe Dellamotta at www.forexlive.com.