Upcoming economic events 21 January 2025

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Forecast
10:00		21:45	Eurogroup Meetings	———-	———-
10:00		21:45	ZEW Economic Sentiment (Jan)	16.9	17.0
21:45		21:45	CPI (YoY) (Q4)	2.1%	2.2%
21:45		21:45	CPI (QoQ) (Q4)	0.5%	0.6%

Summary of Upcoming Economic Events on January 21, 2025

European Union

1. Eurogroup Meetings (10:00 UTC):
   • Ongoing discussions among Eurozone finance ministers. Potential commentary on fiscal policies or economic plans may affect EUR sentiment.
2. ZEW Economic Sentiment (Jan) (10:00 UTC):
   • Forecast: 16.9, Previous: 17.0.
     This index gauges investor sentiment and expectations for the Eurozone’s economic outlook. A drop could weigh on the EUR, signaling reduced optimism.

New Zealand

3. CPI (YoY) (Q4) (21:45 UTC):
   • Forecast: 2.1%, Previous: 2.2%.
     Indicates the annual inflation rate. A lower-than-expected reading may reduce the likelihood of further RBNZ rate hikes, pressuring the NZD.
4. CPI (QoQ) (Q4) (21:45 UTC):
   • Forecast: 0.5%, Previous: 0.6%.
     The quarterly inflation measure offers short-term insight into price trends, directly influencing monetary policy expectations.

Market Impact Analysis

EUR:

• ZEW Economic Sentiment: A lower reading might signal weaker confidence in the Eurozone’s economic recovery, potentially weakening the EUR.

NZD:

• CPI Data: Both YoY and QoQ figures are crucial for setting expectations around RBNZ’s next moves. A miss in forecasts could lead to a sell-off in the NZD, while a positive surprise may strengthen it.

Volatility & Impact Score

• Volatility: Medium (Focus on ZEW sentiment for EUR and CPI data for NZD).
• Impact Score: 6/10 – CPI results in New Zealand will be key, especially for the NZD’s near-term direction.