Weekly Analysis (01-05 Jan)
| Time | Currency | Event |
| Monday | ||
| Tuesday | ||
| 08:55 | EUR | HCOB Germany Manufacturing PMI (Dec) |
| 09:00 | EUR | HCOB Eurozone Manufacturing PMI (Dec) |
| 09:30 | GBP | S&P Global/CIPS UK Manufacturing PMI (Dec) |
| 14:45 | USD | S&P Global US Manufacturing PMI (Dec) |
| Wednesday | ||
| 08:55 | EUR | German Unemployment Rate (Dec) |
| 15:00 | USD | ISM Manufacturing PMI (Dec) |
| 15:00 | USD | JOLTs Job Openings (Nov) |
| 19:00 | USD | FOMC Meeting Minutes |
| Thursday | ||
| 01:45 | CNY | Caixin Services PMI (Dec) |
| 09:00 | EUR | HCOB Eurozone Services PMI (Dec) |
| 09:00 | EUR | HCOB Eurozone Composite PMI (Dec) |
| 09:30 | GBP | S&P Global/CIPS UK Composite PMI (Dec) |
| 13:00 | EUR | German CPI (MoM) (Dec) |
| 14:45 | USD | S&P Global Services PMI (Dec) |
| Friday | ||
| 00:30 | JPY | au Jibun Bank Japan Services PMI (Dec) |
| 10:00 | EUR | Core CPI (YoY) |
| 10:00 | EUR | CPI (YoY) (Dec) |
| 13:30 | USD | Average Hourly Earnings (MoM) (Dec) |
| 13:30 | USD | Nonfarm Payrolls (Dec) |
| 13:30 | USD | Unemployment Rate (Dec) |
| 15:00 | USD | ISM Non-Manufacturing PMI (Dec) |
The transition from the holiday season to the new year marks a week where Monday is observed as a holiday for New Year's Day. This week will primarily focus on PMI data releases from various economies.
In the US, the week begins with the manufacturing PMI data, which is currently in the contraction zone and provides an insight into the US economy. On Thursday, the more impactful Services PMI data will be released. In addition, the focus will be on labor market data, culminating in Friday's Non-Farm Payrolls (NFP), which will shed light on whether the healthy employment trend in the US is continuing. Various other labor market data will be released throughout the week.
Europe will start the week with manufacturing data, which will continue the trend of contraction and add to recession fears. Germany will publish its unemployment figures on Wednesday. On Thursday, the services PMI, which is important for both the EU and Germany, will be published and will influence market sentiment regarding the economic situation in the EU. Concurrently, Germany's CPI will be revealed. Friday's Inflation Data in the EU will indicate whether the disinflationary trend is persisting, with markets anticipating a jump in inflation from 2.4% to 3% due to increased winter gas consumption impacting prices.
The UK will release its PMI manufacturing data, followed by Services PMI on Wednesday and Thursday, respectively. These will test the UK economy's health and influence the Bank of England's challenging position regarding its next move amidst higher inflation and deteriorating economic conditions.
Canada will receive its labor market data on Friday alongside the US, providing insights into the health of the Canadian labor market. Additionally, PMI data will serve as an indicator of economic conditions.
Japan will release its first set of data on Friday as the holiday season continues. The Services PMI will be closely watched, given market expectations of an impending shift in the Bank of Japan's (BoJ) monetary policy and confidence in the Japanese economy's ability to sustain inflation above 2%.
China will release its PMI data, highlighting challenges in achieving an economic rebound as authorities continue efforts to boost the economy, particularly addressing the decline in the housing market.