Tuesday, 14th January
- USD – Core PPI & PPI Data – 1:30pm GMT:
The United States will release its Producer Price Index (PPI) and Core PPI data for December. These metrics measure price changes for goods sold at the factory gate, providing insights into inflation trends. Analysts expect both Core PPI and PPI to register a monthly increase of 0.2% and 0.4%, respectively. Any deviation could influence the Federal Reserve’s monetary policy outlook and impact the USD and US equity indices.
Wednesday, 15th January
- GBP – Inflation Data (CPI) – 7:00am GMT:
The UK’s Consumer Price Index (CPI) will be in focus, with an annual increase of 2.6% expected. Persistently high inflation in the UK has raised concerns about stagflation, putting the Bank of England in a tough spot. A higher-than-expected reading could support GBPUSD, while a lower figure may raise calls for rate cuts. - USD – CPI Data – 1:30pm GMT:
The US CPI report will take center stage midweek. Analysts forecast a 0.3% monthly rise for both headline and Core CPI. Year-over-year CPI is projected at 2.9%, up from 2.7%. This could influence expectations for future Federal Reserve decisions, potentially affecting USD and equity markets. - USD – Empire State Manufacturing Index – 1:30pm GMT:
This regional manufacturing activity index is expected to show marginal improvement from -0.3 to 0.2, signaling stabilization. - USD – Crude Oil Inventories – 3:30pm GMT:
A draw of 1.0M barrels is anticipated. Changes in crude oil inventories can drive volatility in energy markets, with implications for global inflation and trade.
Thursday, 16th January
- AUD – Employment Data – 12:30am GMT:
Australia will release its Employment Change and Unemployment Rate data. Analysts predict an increase of 14.5K jobs and an unemployment rate ticking up to 4.0%. These figures will be critical for AUDUSD and ASX 200, especially as the RBA weighs future policy adjustments. - GBP – GDP m/m – 7:00am GMT:
UK Gross Domestic Product data is due, with an anticipated 0.2% monthly growth following a contraction of -0.1%. The reading could provide clues on the health of the UK economy and influence GBP performance. - USD – Retail Sales Data – 1:30pm GMT:
Core Retail Sales and headline Retail Sales are forecast to rise by 0.5% and 0.6%, respectively. These figures are key indicators of consumer spending, a primary driver of the US economy. Positive data may boost sentiment around the USD and US equities. - USD – Unemployment Claims – 1:30pm GMT:
Weekly initial jobless claims are expected at 210K, up from the previous 201K. A higher reading might indicate weakening labor market conditions. - USD – Philly Fed Manufacturing Index – 1:30pm GMT:
Expected to improve to -7.0 from -16.4, this index could offer insights into regional manufacturing trends.
Friday, 17th January
- CNY – GDP, Industrial Production, and Retail Sales – 2:00am GMT:
China will release a host of critical data. GDP growth is forecasted at 5.0% year-over-year, Industrial Production at 5.4%, and Retail Sales at 3.5%. These updates will reflect the health of the Chinese economy amidst ongoing global uncertainties and could impact global risk sentiment. - GBP – Retail Sales m/m – 7:00am GMT:
UK Retail Sales are expected to rise by 0.4% month-over-month, up from 0.2%. Strong consumer spending data could provide a tailwind for GBP. - USD – Building Permits – 1:30pm GMT:
Building Permits data is forecasted at 1.46M, slightly below the prior 1.49M. This indicator is a leading measure of US housing market health.
This week’s mix of inflation data, employment updates, and corporate earnings will likely shape market narratives, particularly in currencies, equities, and commodities.
