Upcoming economic events 24 January 2025

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
00:30		2 points	au Jibun Bank Services PMI (Jan)	———-	50.9
02:30		2 points	BoJ Monetary Policy Statement	———-	———-
03:00		2 points	BoJ Outlook Report (YoY)	———-	———-
03:00		3 points	BoJ Interest Rate Decision	0.50%	0.25%
06:30		2 points	BoJ Press Conference	———-	———-
09:00		2 points	HCOB Eurozone Manufacturing PMI	45.6	45.1
09:00		2 points	HCOB Eurozone Composite PMI	49.7	49.6
09:00		2 points	HCOB Eurozone Services PMI	51.4	51.6
10:00		2 points	ECB President Lagarde Speaks	———-	———-
14:45		3 points	S&P Global Manufacturing PMI	49.8	49.4
14:45		2 points	S&P Global Composite PMI	———-	55.4
14:45		3 points	S&P Global Services PMI	56.4	56.8
15:00		3 points	Existing Home Sales (Dec)	4.19M	4.15M
15:00		2 points	Existing Home Sales (MoM) (Dec)	———-	4.8%
15:00		2 points	Michigan 1-Year Inflation Expectations (Jan)	3.3%	2.8%
15:00		2 points	Michigan 5-Year Inflation Expectations (Jan)	3.3%	3.0%
15:00		2 points	Michigan Consumer Expectations (Jan)	70.2	73.3
15:00		2 points	Michigan Consumer Sentiment (Jan)	73.2	74.0
18:00		2 points	U.S. Baker Hughes Oil Rig Count	———-	478
18:00		2 points	CFTC Crude Oil speculative net positions	———-	580
20:30		2 points	CFTC Crude Oil speculative net positions	———-	306.3K
20:30		2 points	CFTC Gold speculative net positions	———-	279.4K
20:30		2 points	CFTC Nasdaq 100 speculative net positions	———-	10.5K
20:30		2 points	CFTC S&P 500 speculative net positions	———-	-30.5K
20:30		2 points	CFTC AUD speculative net positions	———-	-77.6K
20:30		2 points	CFTC JPY speculative net positions	———-	-29.4K
20:30		2 points	CFTC EUR speculative net positions	———-	-60.4K

Summary of Upcoming Economic Events on January 24, 2025

Japan (🇯🇵)

1. au Jibun Bank Services PMI (Jan)(00:30 UTC):
   • Previous: 50.9.
   • Offers insight into the health of Japan’s service sector. A reading above 50 signals expansion, while below 50 suggests contraction.
2. BoJ Monetary Policy Statement & Outlook Report (02:30–03:00 UTC):
   • The BoJ will outline its monetary policy stance and provide its economic outlook.
3. BoJ Interest Rate Decision (03:00 UTC):
   • Forecast: 0.50%, Previous: 0.25%.
   • A rate hike would signal a significant shift in the BoJ’s ultra-loose policy, likely strengthening the JPY.
4. BoJ Press Conference (06:30 UTC):
   • Governor Ueda’s remarks will be closely monitored for forward guidance.

Eurozone (🇪🇺)

5. HCOB Eurozone Manufacturing PMI (Jan)(09:00 UTC):
   • Forecast: 45.6, Previous: 45.1.
6. HCOB Eurozone Composite PMI (Jan)(09:00 UTC):
   • Forecast: 49.7, Previous: 49.6.
7. HCOB Eurozone Services PMI (Jan)(09:00 UTC):
   • Forecast: 51.4, Previous: 51.6.
8. ECB President Lagarde Speaks (10:00 UTC):
   • Potential discussion on inflation, monetary policy, or the Eurozone economic outlook.

United States (🇺🇸)

9. S&P Global Manufacturing PMI (Jan)(14:45 UTC):
   • Forecast: 49.8, Previous: 49.4.
10. S&P Global Composite PMI (Jan) (14:45 UTC):

• Previous: 55.4.

11. S&P Global Services PMI (Jan) (14:45 UTC):

• Forecast: 56.4, Previous: 56.8.

12. Existing Home Sales (Dec) (15:00 UTC):

• Forecast: 4.19M, Previous: 4.15M.

13. Michigan Consumer Sentiment & Inflation Expectations (Jan) (15:00 UTC):

• 1-Year Inflation Expectations: Forecast: 3.3%, Previous: 2.8%.
• 5-Year Inflation Expectations: Forecast: 3.3%, Previous: 3.0%.
• Consumer Sentiment: Forecast: 73.2, Previous: 74.0.

14. U.S. Baker Hughes Oil Rig Count (18:00 UTC):

• Previous: 478.

15. CFTC Speculative Position Data (20:30 UTC):

• Includes positions on crude oil, gold, Nasdaq 100, and other assets, reflecting market sentiment among large speculators.

Market Impact Analysis

JPY:

• The BoJ Interest Rate Decision is pivotal. If the BoJ raises rates to 0.50%, it would represent a more hawkish policy, likely strengthening the JPY.

EUR:

• PMI Data will reflect the health of the Eurozone economy, with weaker manufacturing likely offset by stronger services.
• Lagarde’s Speech could influence the EUR, depending on inflationary or policy signals.

USD:

• PMI Data and Consumer Sentiment will offer clues about the resilience of the U.S. economy.
• Crude Oil Inventories and Baker Hughes Rig Count may impact energy markets.
• Rising inflation expectations could lead to speculation about further Fed action, affecting the USD.

Volatility & Impact Score

• Volatility: High (BoJ rate decision, PMI data, U.S. inflation expectations).
• Impact Score: 8/10 – Markets will closely watch the BoJ’s policy shift and U.S. economic indicators, driving significant movements in JPY, EUR, and USD pairs.