Weekly Outlook for 30 January – 3 February

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DG365FD46564GFH654FU898 Following the rally in gold and silver prices during last week along with the gains of major currencies including the Euro and Australian dollar against the U.S. dollar, the upcoming week starts off with the announcement of Fitch rating to downgrade five EU countries’ credit rating. It will be interesting to see how, if at all, the market will react to this news (I guess it won’t). There are many news items on this week’s agenda that might affect commodities and forex markets including: U.S. non-farm employment report, Bernanke’s testimony, the EU summit, U.S. consumer confidence report, China’s manufacturing PMI, and Canada’s GDP. Here is an economic news calendar outlook for the week of January 30th to February 3rd that highlights the main news items related to the U.S., Europe, Australia, Canada and China.