Here are some of the important economic data that will be the focus of the market throughout this week.
MONDAY (January 6, 2025)
German Inflation Data (European Session) – Changes in the prices of goods and services in Germany will be observed in the publication earlier this week as the main economy in Europe. Expectations of an increase in German inflation figures last December could support the increase in the value of the Euro in the market.
TUESDAY (January 7, 2025)
US Services PMI ISM Survey (11.00 PM) – Last week’s close saw an increase in the ISM PMI survey reading for the manufacturing sector in America for December. This week, the same data will be published for the survey for the services sector.
JOLTS Employment Data (11.00 PM) – The positive outlook remains on the JOLTS data for November 2024 after the previously published reading was excellent with 7.74 million jobs offered, beating the forecast.
WEDNESDAY (January 8, 2025)
Australian Inflation Data (8.30 AM) – In November, Australian inflation remained at 2.1% against the forecast of 2.5%. For the opening of January, the forecast for Australian inflation has increased slightly to 2.2% for December 2024. This will be the assessment for the Reserve Bank of Australia for setting monetary policy in 2025.
ADP Employment Data (9.15 PM) – After a decline in the US private employment growth in November by 146,000, the latest increase for December is expected to slow down to a forecast of 131,000.
THURSDAY (January 9, 2025)
FOMC Minutes (3.00 AM) – After a surge in the US dollar in December, the market will be looking at the minutes for the last meeting of 2024. The latest clues may be obtained after Jerome Powell signals a more cautious easing of monetary policy.
FRIDAY (January 10, 2025)
Canadian Employment Data (9.30 PM) – After a surge to 50,500 Canadian jobs in November, the forecast for December is back down to half that at around 24,500 for December 2024. Meanwhile, Canada’s unemployment rate is expected to remain at 6.8%.
US NFP Employment Data (9.30 PM) – The main focus and curtain-raiser of the week, the US NFP employment report for December will be closely watched. Job gains are expected to slow to 154,000 from 227,000 the previous month and average hourly earnings are also expected to decline. Meanwhile, the unemployment rate is forecast to remain at 4.2%.
