Jeremy Oles

Published On: 02/02/2025
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Upcoming economic events 3 February 2025
By Published On: 02/02/2025
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
00:30🇦🇺2 pointsBuilding Approvals (MoM) (Dec)0.9%-3.6%
00:30🇦🇺2 pointsRetail Sales (MoM) (Dec)-0.7%0.8%
01:45🇨🇳2 pointsCaixin Manufacturing PMI (Jan)50.650.5
09:00🇪🇺2 pointsHCOB Eurozone Manufacturing PMI (Jan)46.145.1
10:00🇺🇸2 pointsOPEC Meeting  ———-———-
10:00🇪🇺2 pointsCore CPI (YoY) (Jan)  2.6%2.7%
10:00🇪🇺3 pointsCPI (YoY) (Jan) 2.4%2.4%
10:00🇪🇺2 pointsCPI (MoM) (Jan)———-0.4%
14:45🇺🇸3 pointsS&P Global Manufacturing PMI (Jan)50.149.4
15:00🇺🇸2 pointsConstruction Spending (MoM) (Dec)0.3%0.0%
15:00🇺🇸2 pointsISM Manufacturing Employment (Jan)———-45.4
15:00🇺🇸3 pointsISM Manufacturing PMI (Jan)49.349.2
15:00🇺🇸3 pointsISM Manufacturing Prices (Jan)52.652.5
17:30🇺🇸2 pointsISM Manufacturing Prices (Jan)———-———-
18:00🇺🇸2 pointsAtlanta Fed GDPNow (Q1)2.9%2.9%

Summary of Upcoming Economic Events on February 3, 2025

Australia (🇦🇺)

Building Approvals (MoM) (Dec)(00:30 UTC)

  • Forecast: 0.9%, Previous: -3.6%.
  • A rebound in building approvals could support AUD strength.
  1. Retail Sales (MoM) (Dec)(00:30 UTC)
    • Forecast: -0.7%, Previous: 0.8%.
    • A sharp decline in consumer spending may weaken AUD and suggest economic slowing.

China (🇨🇳)

  1. Caixin Manufacturing PMI (Jan)(01:45 UTC)
    • Forecast: 50.6, Previous: 50.5.
    • A reading above 50 signals expansion in China’s manufacturing sector, potentially boosting sentiment in Asian markets.

Eurozone (🇪🇺)

  1. HCOB Eurozone Manufacturing PMI (Jan)(09:00 UTC)
    • Forecast: 46.1, Previous: 45.1.
    • Still in contraction (<50), but an improvement could indicate economic stabilization.
  2. Core CPI (YoY) (Jan)(10:00 UTC)
    • Forecast: 2.6%, Previous: 2.7%.
    • Lower inflation may increase ECB rate-cut expectations, weakening EUR.
  3. CPI (YoY) (Jan)(10:00 UTC)
    • Forecast: 2.4%, Previous: 2.4%.
    • Stable inflation suggests no immediate need for ECB rate changes.
  4. CPI (MoM) (Jan)(10:00 UTC)
    • Forecast: 0.4%.
    • A higher reading could signal persistent inflationary pressures.

United States (🇺🇸)

  1. OPEC Meeting(10:00 UTC)
    • Any output changes or geopolitical tensions could impact oil prices and energy stocks.
  2. S&P Global Manufacturing PMI (Jan)(14:45 UTC)
    • Forecast: 50.1, Previous: 49.4.
    • A shift above 50 indicates growth, potentially supporting market sentiment.
  3. Construction Spending (MoM) (Dec) (15:00 UTC)
  • Forecast: 0.3%, Previous: 0.0%.
  • Positive spending data could boost the housing sector.
  1. ISM Manufacturing Employment (Jan) (15:00 UTC)
  • Previous: 45.4.
  • A reading below 50 suggests declining employment in the sector.
  1. ISM Manufacturing PMI (Jan) (15:00 UTC)
  • Forecast: 49.3, Previous: 49.2.
  • If it surpasses 50, it could indicate an industrial sector recovery.
  1. ISM Manufacturing Prices (Jan) (15:00 UTC)
  • Forecast: 52.6, Previous: 52.5.
  • Rising input costs may indicate future inflation concerns.
  1. FOMC Member Bostic Speaks (17:30 UTC)
  • Possible insights into Fed policy direction.
  1. Atlanta Fed GDPNow (Q1) (18:00 UTC)
  • Forecast: 2.9%, Previous: 2.9%.
  • An increase may support bullish sentiment in equities.

Market Impact Analysis

  • AUD: Retail Sales drop may weaken AUD, while a rebound in Building Approvals could offset losses.
  • EUR: Lower inflation could push ECB rate-cut expectations higher, leading to a softer EUR.
  • USD: ISM and PMI data will be key drivers; strong numbers may strengthen the dollar.
  • Oil Prices: OPEC decisions could increase crude oil volatility.

Volatility & Impact Score

  • Volatility: High (ISM Manufacturing PMI, CPI, and OPEC Meeting are key events).
  • Impact Score: 7/10 – PMI, inflation data, and Fed speeches could drive major market moves.