January 13 – January 17, 2025 Economic report and policy meeting
On Wednesday, the U.S. Bureau of Labor Statistics releases the consumer price index for December. Economists forecast a 2.9% year-over-year increase in the CPI, two-tenths of a percentage point more than in November. The core CPI, which strips out volatile food and energy prices, is expected to rise 3.3%, matching the November figure. The annual change in the CPI has ranged from 2.4% to 2.9% over the past five months but getting to the Federal Reserve’s target of 2% has proved to be a sticky problem.
On Thursday, the Census Bureau reports retail and food services sales for December. Consensus estimate is for a 0.6% month-over-month increase, after a 0.7% gain in November. Excluding autos, retail sales are seen rising 0.5%, three-tenths of a percentage point more than previously.
| Date | Country | Event | Period |
|---|---|---|---|
| Mon, Jan 13 | Japan | BoP Current Account Balance | Nov |
| Tue, Jan 14 | Argentina | National CPI MoM | Dec |
| Tue, Jan 14 | Eurozone | ECB's Lane Gives Speech in Hong Kong | |
| Tue, Jan 14 | Italy | Industrial Production MoM | Nov |
| Tue, Jan 14 | South Korea | Unemployment rate SA | Dec |
| Tue, Jan 14 | United States | PPI Final Demand MoM | Dec |
| Wed, Jan 15 | Australia | Employment Change | Dec |
| Wed, Jan 15 | Australia | Unemployment Rate | Dec |
| Wed, Jan 15 | Eurozone | ECB's Guindos Gives Speech in Madrid | |
| Wed, Jan 15 | Eurozone | ECB's Villeroy speaks in Paris | |
| Wed, Jan 15 | Eurozone | ECB's Vujcic, Hungary's Matolcsy Speak in Vienna | |
| Wed, Jan 15 | France | CPI YoY | Dec |
| Wed, Jan 15 | Indonesia | BI-Rate | Wed, Jan 15 |
| Wed, Jan 15 | Japan | PPI YoY | Dec |
| Wed, Jan 15 | South Korea | BOK Base Rate | Wed, Jan 15 |
| Wed, Jan 15 | United Kingdom | CPI MoM | Dec |
| Wed, Jan 15 | United Kingdom | CPI YoY | Dec |
| Wed, Jan 15 | United Kingdom | CPI Core YoY | Dec |
| Wed, Jan 15 | United States | MBA Mortgage Applications | Wed, Jan 15 |
| Wed, Jan 15 | United States | Empire Manufacturing | Jan |
| Wed, Jan 15 | United States | CPI MoM | Dec |
| Wed, Jan 15 | United States | CPI YoY | Dec |
| Wed, Jan 15 | United States | Federal Reserve Releases Beige Book | |
| Thu, Jan 16 | China | GDP YoY | 4Q |
| Thu, Jan 16 | China | Industrial Production YoY | Dec |
| Thu, Jan 16 | China | Retail Sales YoY | Dec |
| Thu, Jan 16 | Eurozone | ECB Releases Account of Dec. 11-12 Meeting | |
| Thu, Jan 16 | Eurozone | ECB's Panetta speaks in Bologna | |
| Thu, Jan 16 | Germany | CPI YoY | Dec |
| Thu, Jan 16 | Germany | CPI MoM | Dec |
| Thu, Jan 16 | Germany | CPI EU Harmonized YoY | Dec |
| Thu, Jan 16 | Italy | CPI EU Harmonized YoY | Dec |
| Thu, Jan 16 | United Kingdom | Industrial Production MoM | Nov |
| Thu, Jan 16 | United Kingdom | Manufacturing Production MoM | Nov |
| Thu, Jan 16 | United States | Retail Sales Advance MoM | Dec |
| Thu, Jan 16 | United States | Initial Jobless Claims | |
| Fri, Jan 17 | Eurozone | CPI YoY | Dec |
| Fri, Jan 17 | Eurozone | ECB's Nagel Gives Speech in Frankfurt | |
| Fri, Jan 17 | Eurozone | CPI MoM | Dec |
| Fri, Jan 17 | Eurozone | ECB's Escriva, Centeno Speak in Madrid | |
| Fri, Jan 17 | United Kingdom | Retail Sales Inc Auto Fuel MoM | Dec |
| Fri, Jan 17 | United States | Housing Starts | Dec |
| Fri, Jan 17 | United States | Industrial Production MoM | Dec |
| Fri, Jan 17 | United States | Capacity Utilization | Dec |
Contact Comerica Foreign Exchange
800.746.6439
248.371.6808
800.318.9062
562.951.2450
800.736.6734
214.890.4341
416.367.4438
This is not a complete analysis of every material fact regarding any company, industry or security. The information and materials herein have been obtained from sources we consider to be reliable, but Comerica Capital Markets does not warrant, or guarantee, its completeness or accuracy. Materials prepared by Comerica Capital Markets personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of Comerica Capital Markets, including investment banking personnel.
The views expressed are those of the author at the time of writing and are subject to change without notice. We do not assume any liability for losses that may result from the reliance by any person upon any such information or opinions. This material has been distributed for general educational/informational purposes only and should not be considered as investment advice or a recommendation for any particular security, strategy or investment product, or as personalized investment advice.
