Week’s main events (December 30 – January 03)

No major economic events are expected this week, with most financial exchanges closed for 2 days, so volatility will be low. Non-Farm Payrolls labor market data has been postponed until next week. So this week, pay attention to Manufacturing PMI data across key economies. Also, at the end of the week, it is worth paying attention to the weekly reports on crude oil and natural gas inventories, which strongly influence these commodities.

Monday, December 30

On Monday, pay attention to the data on business activity in Japan. The growth of the indicator is usually positive for strengthening the national currency. Switzerland will publish KOF data on economic health. A slight decrease in the indicator is expected.

Main events of the day:

– Japan Manufacturing PMI (m/m) at 02:30 (GMT+2);
– Switzerland KOF Leading Indicators (m/m) at 10:00 (GMT+2);
– US Chicago PMI (m/m) at 16:45 (GMT+2);
– US Pending Home Sales (m/m) at 17:00 (GMT+2).

Tuesday, December 31

Much of the financial world will celebrate the New Year’s holiday on Tuesday. Only markets in China and the United States will be open. It is a bank holiday in Hong Kong, Singapore, Australia, New Zealand, Japan, Germany, Switzerland, Norway, and Sweden.

Main events of the day:

– China Manufacturing PMI (m/m) at 03:30 (GMT+2);
– China Non-Manufacturing PMI (m/m) at 03:30 (GMT+2).

Wednesday, January 01

Almost all financial centers worldwide have a bank holiday on Wednesday due to New Year’s celebrations. No significant events are expected.

No important events for the day

Thursday, January 02

On Thursday, investors will focus on the US Initial Jobless Claims, an important indicator of the US labor market. Last week’s data showed increased claims, which put pressure on stock indices. A similar scenario may happen this week. It is also worth paying attention to the data on business activity in the manufacturing sector in key economies. Traders should also pay attention to the Crude Oil Reserves data, which significantly impacts oil prices. It is a bank holiday in New Zealand and Japan.

– Australia Manufacturing PMI (m/m) at 00:00 (GMT+2);
– China Caixin Manufacturing PMI (m/m) at 03:45 (GMT+2);
– Switzerland Manufacturing PMI (m/m) at 10:30 (GMT+2);
– Germany Manufacturing PMI (m/m) at 10:55 (GMT+2);
– Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2);
– UK Manufacturing PMI (m/m) at 11:30 (GMT+2);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
– Canada Manufacturing PMI (m/m) at 16:30 (GMT+2);
– US Manufacturing PMI (m/m) at 16:45 (GMT+2);
– US Crude Oil Reserves (w/w) at 18:00 (GMT+2).

Friday, January 03

On Friday, the US ISM Manufacturing data will be the most significant release for investors. This private report has more weight than the public report that will be released the day before. The reading is expected to remain below the 50 mark, indicating a contraction in the sector. This could have a negative impact on the US dollar. It is also recommended that the natural gas inventories data is not missed. The situation on the gas market is heating up as Ukraine plans to stop gas supplies to Europe from Russia starting January 1. If the EU countries do not cover the necessary deficit by that time, it may lead to a sharp jump in gas prices.

– German Unemployment Rate (m/m) at 10:55 (GMT+2);
– US ISM Manufacturing PMI (m/m) at 17:00 (GMT+2);
– US Natural Gas Storage (w/w) at 17:30 (GMT+2).

by JustMarkets, 2024.12.30

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