Weekly Economic Calendar

January 7 - January 12, 2024 Economic report and policy meetings

January 7

Euro-Zone:  Germany: Balance of Trade – November, Exports (MoM) – November

Switzerland:  Inflation Rate (YoY) – December, Retail Sales (YoY) – November

January 8

Australia:  Building Permits (MoM) Preliminary – November, Retail Sales (MoM) Preliminary – November  

Brazil:  Brazilian Central Bank (BCB) Focus Market Readout

Euro-Zone:  Consumer Confidence Final – December, Economic Sentiment – December, Industrial Sentiment – December, Retail Sales (YoY) – November, France: Balance of Trade - November

Japan:  Household Spending (YoY) – November

Mexico:  Consumer Confidence – December

Philippines:  Unemployment Rate – November  

Switzerland:  Unemployment Rate – December    

U.K.:  British Retail Consortium (BRC) Retail Sales Monitor (YoY) - December

U.S.:  Consumer Credit Change – November, Federal Reserve’s Bostic Speech

January 9

Australia:  Monthly CPI Indicator – November     

Canada:  Balance of Trade – November, Building Permits (MoM) – November   

Euro-Zone:  Unemployment Rate – November, Italy: Unemployment Rate – November, France: Industrial Production (MoM) – November, ECB Villeroy de Galhau Speech  

Mexico:  Inflation Rate (YoY) – December, Core Inflation Rate (MoM) - December 

Poland:  Interest Rate Decision - January    

South Korea:  Unemployment Rate - December   

U.S.:  NFIB Business Optimism Index – December, Balance of Trade – November, Exports – November, Imports – November, RCM/TIPP Economic Optimism Index – January, Federal Reserve’s Barr Speech

January 10

Australia:  Balance of Trade - November    

China:  New Yuan Loans – December

Euro-Zone:  ECB Guindos Speech, Italy: Retail Sales (MoM) – November, Germany: 10-Year Bund Auction   

Japan:  Coincident Index Preliminary – November, Leading Economic Index Preliminary – November     

New Zealand:  Building Permits (MoM) – November

South Korea:  Interest Rate Decision      

U.K.:  Bank of England Governor Bailey Speech

U.S.:  Wholesale Inventories (MoM) – November, MBA 30-Year Mortgage Rate (January 5),  MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (January 5), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (January 5), Department of Energy (DOE) U.S. Crude Oil Inventories (January 5), DOE Cushing OK Crude Inventory (January 5), DOE U.S. Gasoline Inventories (January 5), DOE U.S. Distillate Inventory (January 5), DOE U.S. Refinery Utilization (January 5), DOE Crude Oil Implied Demand (January 5), Gasoline Implied Demand (January 5), Distillate Implied Demand (January 5), API Crude Oil Stock Change (January 5), EIA Natural Gas Stocks Change – January 5, Federal Reserve’s Williams Speech

January 11

Australia:  Home Loans (MoM) – November, Investment Lending for Homes - November

Brazil:  Inflation Rate (MoM) – December, Inflation Rate (YoY) – December

China:  Inflation Rate (YoY) – December, Inflation Rate (MoM) – December, PPI (YoY) – December, Balance of Trade – December

Euro-Zone:  ECB Economic Bulletin, Italy: Industrial Production (YoY) – November, Industrial Production (YoY) – November, France: Inflation Rate (MoM) Final – December, Inflation Rate (YoY) Final – December

Japan:  Bank Lending (YoY) – December, Foreign Bond Investment – December 30, Foreign Bond Investment – January 6, Economy Watchers Survey Current – December, Economy Watchers Survey Outlook - December

Mexico:  Industrial Production (YoY) – November   

U.K.:  GDP 3-Month Average – November, GDP (YoY) – November, Balance of Trade – November, Construction Output (YoY) – November, GDP (MoM) – November, Goods Trade Balance – November, Goods Trade Balance Non-EU – November, Industrial Production (YoY) – November, Manufacturing Production (YoY) – November

U.S.:  inflation Rate (YoY) – December, Core Inflation Rate (YoY) – December, Core Inflation Rate (MoM) – December, CPI – December, CPI s.a. – December, Inflation Rate (MoM) – December, Continuing Jobless Claims – December 30, Initial Jobless Claims – January 6, Monthly Budget Statement – December, Federal Reserve’s Barkin Speech

The Bureau of Labor Statistics releases the consumer price index for December. Consensus estimate if for the COI to increase 3.2% year over year, one-tenth of a percentage point more than in November. The core CPI, which excludes volatile food and energy prices, is expected to rise 3.8% compared with a 4% gain previously. The annualized change in the CPI it near its lowest level since March of2021, which Wall Street thinks will allow the Federal Open Market Committee to start cutting the federal-funds rate as soon as March.

January 12

India:  Industrial Production (YoY) – November, Inflation Rate (YoY) – December, Manufacturing Production (YoY) – November

Russia:  Inflation Rate (MoM) – December, Inflation Rate (YoY) – December

U.K.:  NIESR Monthly GDP Tracker – December

U.S:  PPI (MoM) – December, Federal Reserve’s Kashkari Speech, WASDE Report, Baker Hughes U.S. Rig Count – 12

The BLS releases the producer price index for December. Economists forecast a 1.3% year-over-year rise in the PPI, and a 1.9% increase for the core PPI. This compares with gains of 0.9% and 2.0%, respectively, in November.

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.