Second Quarter Euroland GDP Growth and Some Central Bank Rate Announcements – Currency Thoughts

January 4-10, 2025 – Currency Thoughts


Next Week’s Menu: January 4-10, 2025

January 3, 2025

Central Banks: Monetary policies will be reviewed in Israel and Serbia. Minutes from the FOMC meeting in December get published, and Kansas City Fed President Schmid and Philadelphia President Harker have speaking engagements. Deputy Governor Breeden and European Central Bank Executive Board member Lane speak publicly as well.

Holidays: Epiphany Day is observed Monday in Spain and Italy, and Thursday will be a National Day of Mourning for former U.S. President Jimmy Carter.

Purchasing Manager Survey Releases: Manufacturing surveys for Hong Kong, Singapore, Lebanon, and South Africa. Service sector PMIs are reported for Australia, Japan, China, India, Euroland, Germany, France, Italy, Spain, Ireland, Great Britain, Sweden, and the United States. Non-oil PMIs arrive for Egypt, the U.A.E. and Saudi Arabia. There will also be construction sector PMIs for Euroland, the U.K., Germany, France, Italy and Australia.

U.S. Data Releases: Monthly labor statistics (including nonfarm payroll employment, the jobless rate and average hourly earnings), Institute of Supply Management’s non-manufacturing PMI survey, factory orders, JOLTS data on job quits and hires, NFIB’s index of small business sentiment, University of Michigan/Reuters index of consumer sentiment, the goods and services trade deficit, and the ADP estimate of private sector jobs growth in December. Weekly jobless insurance claims, energy inventories, chain store sales, and mortgage applications.

Japanese and Chinese Releases: Japanese consumer confidence, monetary base, reserves, average cash earnings, household spending, and index of leading economic indicators. Chinese foreign direct investment, international reserves, and money and bank lending growth.

Selected Other Asian Releases: Indian and Malaysian industrial production. Unemployment in the Philippines and South Korea. Filipino consumer prices and trade balance. South Korean current account and index of leading economic indicators. Indian retail sales and Indonesian consumer confidence.

Euroland Releases: Consumer prices, retail sales, CPI, PPI, and Sentix gauge of investor confidence.

Members of the Euro Area: German, French, Italian, Estonian, Lithuanian, and Latvian consumer prices. German, Austrian, Slovenian, Estonian, Finnish, Spanish, Irish and Slovakian industrial production. German, French, Slovenian, Portuguese, Lithuanian and Finnish trade balances. German and French current accounts. German, Dutch, Irish, and Italian retail sales. German industrial orders, Austrian wholesale prices, Lithuanian producer prices, French consumer confidence, and Spanish business confidence.

U.K. and Switzerland: British Halifax house price index, same-store sales, shop prices, and Royal Institute of Chartered Surveyors housing index. Swiss unemployment, retail sales, consumer sentiment, and unemployment.

Eastern Europe: Retail sales in Hungary and Romania. Industrial production in Hungary, Bulgaria and the Czech Republic. Czech and Romanian trade balances. Hungarian PPI and Czech CPI.

Nordic Europe: Danish and Norwegian consumer and producer prices. Danish industrial production and current account. Norwegian industrial production.

Australia, Turkey and South Africa: Australian and Turkish trade balances. South African industrial production and Australian retail sales.

Canadian Releases: Labor market statistics, IVEY-PMI index, building permits, and the trade balance.

Mexico and Brazil: Mexican and Brazilian consumer prices and industrial production. Brazilian retail sales, producer prices, and trade balance. Mexican consumer sentiment.

Copyright 2025, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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