Following a week of stock market rallies, the New Year comes with a strong footing as the NFP release on Friday will set the tone for the Dollar and the US economy.
Monday – 31 December 2018
- Manufacturing PMI (CNY, GMT 00:10) – The Chinese PMI is expected to come out barely below the 50.0 threshold, at 49.9, marking the continuation of an important downwards trend.
Wednesday – 02 January 2019
- Manufacturing PMI (EUR, GMT 09:00) – European PMI is expected to come out at 51.4, the same level as in November.
- Manufacturing PMI (GBP, GMT 09:30) – The UK PMI is expected to register a deterioration to 52.5, compared to 53.1 last month, following the uncertainty over Brexit.
Thursday – 03 January 2019
- Construction PMI (GBP, GMT 09:30) – UK Construction is expected to decline, in accordance with the Manufacturing PMI on Wednesday, and stand at 52.9, compared to 53.4 last month.
- Manufacturing PMI (USD, GM 15:00) – The ISM manufacturing PMI is expected to register a decline to 58.0, compared to 59.3 in November, with the ISM Prices PMI part also expected to register a decrease.
Friday – 04 January 2019
- Services and Composite PMI (EUR, GMT 09:00) – Both Euro Area measures are expected to come out at the same level as last month.
- Consumer Price Index (EUR, GMT 10:00) – Prices are expected to have eased slightly in December, with overall inflation expected to stand at 1.8%, compared to 1.9% last month on account of the reduction in oil prices, while core inflation is expected to remain at 1%.
- EVENT OF THE WEEK – NonFarm Payrolls and Labour Market Data (USD, GMT 13:30) – NFPs are expected to come out at 178k, compared to 155k last month, while the unemployment rate is expected to have remained at 3.7%.
- Employment Data (CAD, GMT 13:30) – The unemployment rate is expected to have increased to 5.7% in Canada in December, compared to 5.6% in November, while the other labour market data should indicate whether there is cause for worry regarding the country’s prospects.
- Fed Chairman Powell Speech (USD, GMT 15:15) – Jerome Powell, the Fed Chairman, is set to participate in a panel discussion at the American Economic Association’s Annual Meeting.
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Dr Nektarios Michail
Market Analyst
HotForex
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