In the week ahead, investors will be awaiting monetary policy decisions by the Bank of Japan and the BoC. China is to release data on fourth quarter growth as well as a closely watched report on manufacturing activity. The U.S. is to release data on retail sales, while the euro zone is to produce preliminary data on manufacturing and service sector activity.
Monday, January 20
China is to release data on fourth quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. The country is also to produce data on fixed asset investment, industrial production and retail sales. Germany is to produce data on producer price inflation, while the Bundesbank is to publish its monthly report. Markets in the U.S. are to remain closed for the Martin Luther King Day holiday. New Zealand is to release data on consumer price inflation, which accounts for the majority of overall inflation.
Tuesday, January 21
The ZEW Institute is to release its closely watched report on German economic sentiment, a leading indicator of economic health. The U.K. is to publish a private sector report on industrial order expectations. Canada is to produce data on wholesale sales and manufacturing sales.
Wednesday, January 22
Australia is to publish data on consumer price inflation and a private sector report on consumer sentiment. The BoJ is to announce its benchmark interest rate and publish its monetary policy statement, which outlines economic conditions and the factors affecting the bank’s decision. The announcement is to be followed by a press conference. The U.K. is to release official data on the change in the number of people unemployed and the unemployment rate, as well as data on average earnings and public sector borrowing. Meanwhile, the Bank of England is to publish the minutes of its most recent policy setting meeting. The ZEW Institute is to publish a report on economic expectations in Switzerland, a leading indicator of economic health. The BoC is to announce its benchmark interest rate and publish its rate statement and monetary policy report. The announcement is to be followed by a press conference. New Zealand is to release private sector data on manufacturing activity.
Thursday, January 23
China is to release the preliminary estimate of the HSBC manufacturing index, a leading indicator of economic health. The euro zone is to release preliminary data on manufacturing and service sector activity, a leading indicator of economic health. Germany and France are also to release. Canada is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The U.S. is release the weekly report on initial jobless claims and a private sector report on existing home sales.
Friday, January 24
Canada is to round up the week with data on consumer price inflation.