Here are some of the important economic data that will be the focus of the market throughout this week.
MONDAY (February 3, 2025)
US Manufacturing PMI ISM Survey (11.00 PM) – The current economic health assessment of the US is surveyed in the manufacturing sector for January. The latest figure is expected to be unchanged from the previous month, remaining below the 50-point mark.
TUESDAY (February 4, 2025)
JOLTS Employment Data (11.00 PM) – Job openings in the US in December are forecast to slow to 7.88 million compared to an increase of 8.1 million the previous month.
WEDNESDAY (February 5, 2025)
US ADP Employment Data (9.15 PM) – As an early indicator for the US jobs report, this data measuring private employment will be watched first. The forecast for January’s increase is higher than the previous month, expected to be around 149,000.
US Services PMI ISM Survey (11.00 PM) – The US non-manufacturing sector is expected to continue to expand above the 50 mark, slightly above the January forecast.
THURSDAY (6 February 2025)
BOE Policy Meeting (8.00 PM) – The Bank of England is expected to cut interest rates by 25 basis points to 4.50%. The MPC vote will also be watched for the market to gauge the majority’s bias towards the central bank’s interest rate.
FRIDAY (7 February 2025)
Canada Employment Data (9.30 PM) – The Canadian labour sector is being watched with concern. Job growth in January is expected to slow to around 26,500 after a surge of 90,900 in the previous month. The unemployment rate is forecast to rise from 6.7% to 6.8%.
US NFP Employment Data (9.30 PM) – Compared to an increase of 256,000 in December, the NFP figure for January is expected to be low at 154,000. The unemployment rate is forecast to remain at 4.1%.
