Weekly Economic Calendar

January 21 – January 26, 2024 Economic report and policy meetings

January 21

Netherlands:  Consumer Confidence - January

January 22

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout

Japan:  Bank of Japan (BoJ) Interest Rate Decision, BoJ Quarterly Outlook Report

New Zealand:  Services NZ PSI - December         

U.K.:  Public Sector Net Borrowing (PSNB) – December

U.S.:  Conference Board’s Leading (Economic) Index (MoM) – December

January 23

Australia:  Judo Bank Manufacturing Purchasing Managers Index (PMI) Flash – January, Judo Bank Services PMI Flash – January, Westpac Leading Index (MoM) – December

Canada:  New Housing Price Index (YoY) - December

Euro-Zone:  Consumer Confidence Flash – January     

Japan:  Balance of Trade – December      

New Zealand:  Inflation Rate (YoY) – 4^th Qtr., Inflation Rate (QoQ) – 4^th Qtr.

South Korea:  Consumer Confidence – January      

U.S.:  Richmond Federal Reserve Manufacturing Index – January

January 24

Canada:  Bank of Canada (BoC) Interest Rate Decision, BoC Monetary Policy Report

Euro-Zone:  HCOB Composite Purchasing Managers Index (PMI) Flash – January, HCOB Manufacturing PMI Flash – January, HCOB Services PMI Flash – January, France: HCOB Composite PMI Flash – January, HCOB Manufacturing PMI Flash – January, HCOB Services PMI Flash – January, Germany: HCOB Manufacturing PMI Flash – January, HCOB Composite PMI Flash – January, HCOB Services PMI Flash – January, France: Business Confidence – January

Japan:  Foreign Bond Investment – January 20^th  

Mexico:  Economic Activity (YoY) – November, Mid-month Inflation Rate (MoM) – January, Mid-month Inflation Rate (YoY) – January

Poland:  Unemployment Rate – December

South Africa:  Inflation Rate (MoM) – December, Inflation Rate (YoY) – December

South Korea:  GDP Growth Rate (QoQ) Advance – 4^th Qtr., GDP Growth Rate (YoY) Advance – 4^th Qtr.

U.K.:  S&P Global Composite Purchasing Managers Index (PMI) Flash – January, S&P Global Manufacturing PMI Flash – January, S&P Global Services PMI Flash – January

U.S.:  S&P Global Composite Purchasing Managers Index (PMI) Flash – January, S&P Global Manufacturing PMI Flash – January, S&P Global Services PMI Flash – January, MBA 30-Year Mortgage Rate (January 19),  MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (January 19), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (January 19), Department of Energy (DOE) U.S. Crude Oil Inventories (January 19), DOE Cushing OK Crude Inventory (January 19), DOE U.S. Gasoline Inventories (January 19), DOE U.S. Distillate Inventory (January 19), DOE U.S. Refinery Utilization (January 19), DOE Crude Oil Implied Demand (January 19), Gasoline Implied Demand (January 19), Distillate Implied Demand (January 19), API Crude Oil Stock Change (January 19), EIA Natural Gas Stocks Change – January 19

January 25

Canada:  Average Weekly Earnings (YoY) – November

Euro-Zone:  European Central Bank (ECB) Interest Rate Decision, ECB Press Conference, Deposit Facility Rate, Marginal Lending Rate, Germany: Ifo Business Climate – January, France: Unemployment Benefit Claims – December, Germany: GFK Consumer Confidence – February, France: Consumer Confidence - January

Japan:  Bank of Japan (BoJ) Monetary Policy Meeting Minutes, Coincident Index Final – November, Leading Economic Index Final – November

Mexico:  Unemployment Rate – December    

Norway:  Norges Bank Interest Rate Decision, Norges Bank Press Conference

South Africa:  Interest Rate Decision

U.K.:  GfK Consumer Confidence – January

U.S.:  Durable Goods Orders (MoM) – December, GDP Growth Rate (QoQ) Advance – 4^th Qtr., Chicago Federal Reserve National Activity Index – December, Core Personal Consumption Expenditures (PCE) Prices (QoQ) Advance – 4^th Qtr., Durable Goods Orders Excluding Transportation (MoM) – December, GDP Price Index (QoQ) Advance – 4^th Qtr. Goods Trade Balance Advance – December, PCE Prices (QoQ) Advance – 4^th Qtr., Retail Inventories Excluding Autos (MoM) Advance – December, Continuing Jobless Claims – January 13, Initial Jobless Claims – January 20, New Home Sales (MoM) – December

The Bureau of Economic Analysis releases its advance estimate of fourth-quarter gross-domestic-product growth. Consensus estimate is for GDP to have increased at a seasonally adjusted annual rate of 2%, after a 4.9% growth rate in the third quarter. U.S. GDP is expected to grow 2.4% for 2023 compared with 2022 levels.

January 26

China:  Industrial Profits YTD (YoY) – December

Euro-Zone:  Spain: Unemployment Rate – 4^th Qtr.

Mexico:  Balance of Trade – December   

U.S:  Core Personal Consumption Expenditure Price Index (YoY) – December, PCE Price Index (YoY) – December, Core PCE Price Index (MoM) – December, PCE Price Index (MoM) – December, Personal Income (MoM) – December, Personal Income (MoM) – December, Personal Spending (MoM) – December, Pending Home Sales (YoY) – December, Baker Hughes U.S. Rig Count – 26

The Bureau of Economic Analysis (BEA) releases the personal consumption expenditures price index (PCE) for December. Economists forecast a 2.6% year-over-year increase, matching the November data. The core PCE, which excludes volatile food and energy prices, is seen rising 3%, two-tenths of a percentage point less than previously. The year-over-year change in the core PCE is at its lowest level since March of 2121, and is running at an annualized rate of 1.9% over the past six months.

Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.

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