Here are some of the important economic data that will be the focus of the market throughout this week.
MONDAY (January 27, 2025)
China Manufacturing & Services PMI Data (9.30 AM) – Investors will assess the health of the world's second largest economy at the opening of the week. China's manufacturing and services sectors are expected to stabilize above the 50-point mark for January.
TUESDAY (January 28, 2025)
US Consumer Confidence Data (11.00 AM) – The outlook for households in America will influence the movement of the US dollar. The latest increase in the expected figure could provide a positive picture of spending and overall economic activity.
WEDNESDAY (January 29, 2025)
Australian Inflation Data (8.30 AM) – The inflation rate in Australia is starting to show an upward trend with the latest figure expected in December to increase to 2.5% from 2.3% the previous month.
BOC Policy Meeting (10.45 PM) – The Bank of Canada is expected to continue cutting interest rates. After two aggressive 50 basis point cuts, the latest cut is expected to be slowed down to 25 basis points.
THURSDAY (January 30, 2025)
FOMC Meeting (3.00 AM) – Markets remain bullish on the Federal Reserve (Fed) to keep interest rates unchanged at 4.50%. A follow-up statement by Chairman Jerome Powell will be a key indicator after the new administration in the US takes office.
ECB Policy Meeting (9.15 PM) – The European Central Bank is expected to cut interest rates by 25 basis points to 2.90%, with a dovish signal that has been conveyed earlier.
US GDP Data (9.30 PM) – US economic growth will begin to be assessed with the first report for the last quarter of 2024 to be published this week. After being revised up to 3.1%, growth is expected to be lower at 2.7%.
FRIDAY (January 31, 2025)
US PCE Price Index Data (9.30 PM) – As one component of US inflation, the central bank will also be looking at the reading on the personal spending report. The forecast for December is for a 0.2% increase.
