As the US celebrates Martin Luther King Jr.’s Day on Monday, stock exchanges will resume work on Tuesday morning. While the economic calendar looks rather short this week, we will receive some inflation data from Germany on Monday and the US's initial and continuing jobless claims on Thursday. The annual meeting of the World Economic Forum will take place this week in Davos, Switzerland, starting Monday. According to the WEF agenda, this year's top decision-makers will gather under “Collaboration for the Intelligent Age” to discuss geopolitical shocks, improving living standards worldwide, and energy transition.
Table of Contents:
Monday 20.01. 08:00 CET, German Producer Price Index (PPI) MoM (December)
In November 2024, Germany experienced a 0.50 percent increase in producer prices compared to the previous month, representing the largest monthly rise since April 2023, following a 0.20 percent increase in October. From 1950 to 2024, the average monthly producer price inflation in Germany was 0.19 percent, with a peak of 5.40 percent in August 2022 and a low of -3.10 percent recorded in November 2022.
Analysts forecast the German PPI to slightly decline from the previous reading and reach 0.4% in the upcoming announcement.
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Source: Tradingeconomics.com
A higher-than-expected reading may have a bearish effect on the EUR, while a lower-than-expected reading could be bullish for the EUR.
Impact: EUR/USD, EUR/GBP, EUR/PLN
Thursday 23.01. 14:30 CET, US Initial Jobless Claims (week ending January 18)
In the week ending January 11, 2025, initial jobless claims in the United States rose to 217,000, up from 201,000 the previous week. The reading came out higher than the expected 210,000. Furthermore, last week’s reading of 201,000 has been revised to 203,000 - also worse than previously reported. Historically, initial jobless claims in the US averaged 363,170 from 1967 to 2025, peaking at an unprecedented 6,137,000 in April 2020 and hitting a record low of 162,000 in November 1968.
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Source: Tradingeconomics.com
A higher-than-expected reading may have a bearish effect on the USD, while a lower-than-expected reading could be bullish for the USD.
Impact: EUR/USD, USD/GBP, USD/PLN
Santa Zvaigzne-Sproge, CFA, Head of Investment Advice Department at Conotoxia Ltd. (Conotoxia investment service)
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