Upcoming Key Events This Week

CNY – Industrial Production y/y & Retail Sales y/y – 2:00am GMT: China’s Industrial Production rose 5.4% y/y, matching forecasts, while Retail Sales disappointed at 3.0% y/y, below the expected 5.0%. These figures may influence the China A50 and Hong Kong 50 indices amid hopes for further economic stimulus from Beijing.
EUR – Eurozone Flash PMIs – 8:15am to 9:00am GMT: Flash Manufacturing PMIs in France and Germany came in weaker than expected, indicating continued challenges in the eurozone’s industrial sector. Services PMIs, however, showed resilience. ECB President Lagarde’s comments during the day will be closely watched.
GBP – Flash Manufacturing & Services PMI – 9:30am GMT: UK Manufacturing PMI dropped to 47.3, while Services PMI rose to 51.4, reflecting mixed economic signals. This data could impact GBP/USD and the UK 100.
USD – Empire State Manufacturing Index & Flash PMIs – 1:30pm to 2:45pm GMT: The Empire State Manufacturing Index showed a strong reading of 6.4, while US Flash Services PMI came in at 55.7, beating forecasts. This could support US equities and the USD.

GBP – Employment Data – 7:00am GMT: The UK Claimant Count increased by 28.2K, and average earnings rose by 4.7%. These figures may weigh on GBP/USD amid concerns over the UK labor market.
USD – Retail Sales – 1:30pm GMT: US Retail Sales grew by 0.6% m/m, surpassing the 0.4% forecast. This positive surprise could boost consumer-driven stocks and the USD.

GBP – CPI y/y – 7:00am GMT: UK inflation rose to 2.6% y/y, above the expected 2.3%, possibly influencing the Bank of England’s policy outlook.
USD – Federal Reserve Interest Rate Decision & Press Conference – 7:00pm to 7:30pm GMT: The Fed is expected to cut rates by 25bps to 4.50%. Traders will focus on Chair Powell’s guidance for 2025. Any deviation from the anticipated dovish stance could impact US equities and the USD.

JPY – BoJ Policy Rate Decision & Press Conference – Tentative: The Bank of Japan is likely to maintain its policy rate at <0.25%. Governor Ueda’s comments could influence the JPY and Japan 225.
GBP – Bank of England Rate Decision – 12:00pm GMT: The BoE is expected to hold rates steady at 4.75%. Any surprise move could impact GBP/USD and the UK 100.
USD – US Final GDP & Unemployment Claims – 1:30pm GMT: US GDP growth is expected at 2.8% q/q, with unemployment claims forecast at 245K. Any surprises could move the USD and US indices.

CNY – PBOC Loan Prime Rate Decision – 1:15am GMT: China’s PBOC is expected to keep its 1-year and 5-year Loan Prime Rates unchanged at 3.10% and 3.60%, respectively. Markets will watch for signals of future monetary easing.
GBP – Retail Sales m/m – 7:00am GMT: UK Retail Sales are forecast to rebound by 0.5% after a previous decline of -0.7%. A positive surprise could boost GBP/USD.
USD – Core PCE Price Index & Revised UoM Consumer Sentiment – 1:30pm to 3:00pm GMT: The Core PCE Price Index is expected to rise by 0.2% m/m, while consumer sentiment is seen at 74.2. These releases could shape the market’s inflation outlook and influence USD trading.

This week’s calendar is packed with high-impact events that could shape market sentiment. Keep an eye on these developments as they unfold!