January 26 – January 31, 2025 Economic report and policy meeting
January 26
China: NBS Non-Manufacturing Purchasing Managers Index (PMI) – January, NBS Manufacturing PMI – January
January 27
Australia: NAB Business Confidence – December
Brazil: Brazilian Central Bank (BCB) Focus Market Readout
Euro-Zone: Germany: Ifo Business Climate – January, France: Unemployment Benefit Claims – December, Consumer Confidence, ECB President Lagarde Speech
U.S.: New Home Sales – December, New Home Sales (MoM) – December, Chicago Federal Reserve National Activity Index – December, Dallas Federal Reserve Manufacturing Index - Januar
January 28
Australia: Consumer Price Index (CPI) – 4th Qtr., Inflation Rate (YoY) – 4th Qtr., Monthly CPI Indicator – December, Reserve Bank of Australia (RBA) Weighted Median CPI (YoY and QoQ) – 4th Qtr., RBA Trimmed Mean CPI (YoY and QoQ) – 4th Qtr., Inflation Rate (QoQ) – 4th Qtr.
Euro-Zone: Spain: Unemployment Rate – 4th Qtr., Germany: GfK Consumer Confidence – February, ECB President Lagarde Speech, Spain: Consumer Confidence - December
Japan: Bank of Japan (BoJ) Monetary Policy Meeting Minutes, Consumer Confidence – January
U.S.: Durable Goods Orders (MoM) – December, Durable Goods Orders Excluding Defense (MoM) – December, Durable Goods Orders Excluding Transportation (MoM) – December, S&P Case-Shiller Home Prices (YoY) – November, Conference Board – Consumer Confidence – January, API Crude Oil Stock Change – January 24th
January 29
Australia: Reserve Bank of Australia (RBA) Bulletin, RBA Jones Speech
Canada: Bank of Canada (BoC) Interest Rate Decision, BoC Monetary Policy Report, BoC Press Conference
Euro-Zone: Spain: GDP Growth Rate (YoY and QoQ) – 4th Qtr., Austria: Bank Austria Manufacturing Purchasing Managers Index (PMI) – January, France: GDP Growth Rate (QoQ) – 4th Qtr., Italy: Consumer Confidence – January, Business Confidence – January, France: GDP Growth Rate (YoY) – 4th Qtr.
Japan: Bank of Japan (BoJ) Himino Speech
New Zealand: Balance of Trade – December, ANZ Business Confidence – January
Switzerland: Balance of Trade – December
U.S.: Federal Reserve Interest Rate Decision, Federal Reserve Press Conference, Goods Trade Balance – December, Mortgage Bankers Association (MBA) 30-Year Mortgage Rate – January 24, Wholesale Inventories (MoM) – December, Retail Inventories Excluding Autos (MoM) – December, EIA Crude Oil Stocks Change – January 24, EIA Gasoline Stocks Change – January 24
The Federal Open Market Committee (FOMC) announces its monetary-policy decision. The FOMC is widely expected to keep the federal-funds rate unchanged at 4.25 to 4.5%. With the economy and labor market still resilient, and inflation stubbornly above the Federal Reserve’s 2% target, the central bank is in a wait-and-see mode as it assesses incoming economic data.
January 30
Australia: Producer Price Index (PPI) – (QoQ) – 4th Qtr.
Euro-Zone: ECB Interest Rate Decision, Deposit Rate Facility, ECB Press Conference, Unemployment Rate – December, GDP Growth Rate (QoQ) – 4th Qtr., Spain: GDP Growth Rate (YoY and QoQ) – 4th Qtr., Italy: GDP Growth Rate (YoY and QoQ) – 4th Qtr., Unemployment Rate – December, Greece: Unemployment Rate – December, Germany: Retail Sales (YoY and MoM) – December, France: Inflation Rate (YoY) – January, Inflation Rate (YoY and MoM) – January, Economic Sentiment – January, GDP Growth Rate (YoY) – 4th Qtr., Consumer Confidence – January, Spain: Business Confidence – January, Inflation Rate (MoM) - January
Japan: Unemployment Rate – December, Retail Sales (YoY) – December, Industrial Production (MoM) – December, Housing Starts (YoY) - December
Switzerland: Retail Sales (YoY and MoM) – December, KOF Leading Indicators – January
U.K.: Mortgage Lending – December, Mortgage Approvals – December, Bank of England (BoE) Consumer Credit – December, Nationwide Housing Prices (YoY and MoM) - January
U.S.: Initial Jobless Claims – January 25, Continuing Jobless Claims – January 18, Jobless Claims 4-Week Average – January 18, GDP Growth Rate (QoQ) – 4th Qtr., GDP Price Index (QoQ) – 4th Qtr., Pending Home Sales (YoY and MoM) - December
January 31
Canada: GDP (MoM) – November and December
Euro-Zone: Spain: Retail Sales (YoY and MoM) – December, Germany: Unemployment Rate – January, Unemployment Change – January, Inflation Rate (YoY) – January, Greece: Retail Sales (YoY) – November, Germany: Unemployed Persons – January, Inflation Rate (MoM) - January
U.S.: Personal Income (MoM) – December, Personal Spending (MoM) – December, Core Personal Consumptions Expenditures (PCE) Index (YoY and MoM) – December, Employment Cost – Benefit (QoQ) – 4th Qtr., Employment Cost Index (QoQ) – 4th Qtr., Employment Cost – Wages (QoQ) – 4th Qtr., Personal Consumption Expenditures (PCE) Price Index (YoY and MoM) – December, Chicago Purchasing Managers Index (PMI) – January, Federal Reserve’s Bowman Speech
The Bureau of Economic Analysis releases the personal consumption expenditures price index for December. Economists forecast a 2.5% year-over-year increase, one-tenth of a percentage point more than in November. The core PCE index, which excludes volatile food and energy prices, is expected to rise 2.8%, matching the November figure.
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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