TC Economic Insight - The Week Ahead (Jan 29 - Feb 2)


Kim Ming Lam


January 26, 2024



Min Read

TC Economic Insight - The Week Ahead (Jan 29 - Feb 2)

Using Trading Central's "Economic Insight" investors can check out up-coming major economic data.

We are looking into the trading week of January 29 - February 2:

We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:

We can select which economies to focus on:

While major U.S. stock indexes keep marking record closing levels, upbeat U.S. economic growth suggests the Federal Reserve would not cut interest rates very soon. 

Investors are watching closely the coming week’s U.S. official jobs report, checking if the labor market remains resilient, in which case expectations of the Fed cutting rates soon could cool further. 

According to Trading Central's "Economic Insight", addition of Non-Farm Payrolls may slow to 175,000 in January with the Unemployment Rate staying at 3.7%.

In the past 12 U.S. Non-Farm Payrolls Reports, EUR/USD fell in 58% of times (7 out of 12 events) within one hour from the report’s release, marking a trading range of 54.77 pips on average.

Forecasts of Key Economic Data:

Monday (January 29)

US Dallas Fed Manufacturing Index (JAN) expected to fall to -23.0

Tuesday (January 30)

JP Unemployment Rate (DEC) stable at 2.5%

AU Retail Sales (DEC) -1.2% MoM

FR GDP Growth Rate (Q4) unchanged QoQ

EA GDP Growth Rate (Q4) -0.1% QoQ

US CB Consumer Confidence (JAN) to rise to 111.5

Wednesday (January 31)

JP Industrial Production (DEC) +0.1% MoM

JP Retail Sales (DEC) +0.5% MoM

AU Inflation Rate Q4 (YoY) down to 4.3% YoY

CN Official Manufacturing PMI (JAN) up to 49.2

DE Retail Sales (DEC) +1.1% MoM

DE Unemployment Rate (JAN) stable at 5.9%

DE GDP Growth Rate (Q4) -0.3% QoQ

FR Inflation Rate (JAN) down to 2.9% YoY

US ADP Employment Change (JAN) down to 125,000

US Fed Expected to Keep Key Rate at 5.50%

Thursday (February 1) 

CN Caixin Manufacturing PMI (JAN) stable at 50.8

EA Inflation Rate (JAN) down to 2.8% YoY 

EA Unemployment Rate (DEC) up to 6.5%

GB BoE Interest Rate Decision to Keep Key Rate at 5.25%

US Initial Jobless Claims up to 218,000

US ISM Manufacturing PMI (JAN) up to 47.6

Friday (February 2)

AU PPI Growth (Q4) down to 3.7% YoY

US Non Farm Payrolls (JAN) down to 175,000

US Unemployment Rate (JAN) stable at 3.7%

US Factory Orders (DEC) -0.4% MoM

Happy Trading!

Source: Trading Central Economic Insight

Kim Ming Lam

Head of APAC Research
Ming graduated from Hong Kong University with a Bachelor's degree in mechanical engineering. He has been working in the financial services sector for over 10 years. He is currently tasked with providing clients with technical analysis views on forex and Asian stock indexes.
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