Weekly Economic Calendar

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) – 4^th Qtr., Inflation Rate (YoY) – 4^th Qtr., Monthly CPI Indicator – December, Reserve Bank of Australia (RBA) Weighted Median CPI (YoY and QoQ) – 4^th Qtr., RBA Trimmed Mean CPI (YoY and QoQ) – 4^th Qtr., Inflation Rate (QoQ) – 4^th Qtr.

Euro-Zone:  Spain: Unemployment Rate – 4^th 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 24^th

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) – 4^th Qtr., Austria: Bank Austria Manufacturing Purchasing Managers Index (PMI) – January, France: GDP Growth Rate (QoQ) – 4^th Qtr., Italy: Consumer Confidence – January, Business Confidence – January, France: GDP Growth Rate (YoY) – 4^th 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) – 4^th Qtr.

Euro-Zone:  ECB Interest Rate Decision, Deposit Rate Facility, ECB Press Conference, Unemployment Rate – December, GDP Growth Rate (QoQ) – 4^th Qtr., Spain: GDP Growth Rate (YoY and QoQ) – 4^th Qtr., Italy: GDP Growth Rate (YoY and QoQ) – 4^th 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) – 4^th 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) – 4^th Qtr., GDP Price Index (QoQ) – 4^th 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) – 4^th Qtr., Employment Cost Index (QoQ) – 4^th Qtr., Employment Cost – Wages (QoQ) – 4^th 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.