Week Ahead 22 January 2024

Preliminary PMI data for January will be the key economic data released this week. Japan, the Eurozone, Germany, France, the United Kingdom, and the United States have all recorded PMI figures below the critical threshold of 50 in December, indicating contractionary levels in their manufacturing sectors. Market observers are keenly anticipating these reports to ascertain whether there was a rebound in manufacturing activities across major global economies in January.

The European Central Bank, Bank of Japan and Bank of Canada are all expected to keep rates on hold this week. The focus will be on post-meeting commentary as the market looks for clues on the timing of rate cuts from the ECB and BoC, and the end of yield curve control from the Bank of Japan.

Download the Economic Calendar for 22-26 Jan