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Weekly Market Preview
Friday, 17th of January 2025
This week, markets are anticipating several key economic events, including Canadian and New Zealand inflation data, as well as the Bank of Japan’s interest rate decision. The Bank of Japan is expected to raise interest rates by 25 basis points to 0.50% during its meeting this month. Last year, the Bank of Japan exited zero-level interest rates for the first time in over 15 years and is projected to implement additional hikes this year, potentially reaching 0.75% to 1%.
Attention is also on the YoY Canadian CPI forecasted to decline from 1.9% in November to 1.8%, increasing the likelihood of the Bank of Canada maintaining its easing of monetary policy. The Bank of Canada had already reduced interest rates last year from 5% to 3.25%. Similarly, markets are closely monitoring New Zealand’s inflation levels for Q4 2024. Expectations suggest that YoY Consumer Price Index could dip from 2.2% in Q3 to 2.1% in Q4. This decline would support the Reserve Bank of New Zealand in continuing its rate-cutting cycle, which brought interest rates down last year from 5.5% to 4.25%.
Before the week concludes, traders will turn their focus to preliminary purchasing Managers’ Index data for the manufacturing and services sectors in Europe, the UK, and the US for January. While these major economies have seen a downturn in the manufacturing sector performance, pushing it into contraction territory, the services sector remains a crucial driver of growth.
Monday, 20th of January
Tuesday, 21st of January
Wednesday, 22nd of January
Thursday, 23rd of January
Friday, 24th of January
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