Economic Calendar

Key Economic Events: Week Of 29th December 2024

Release Date: 29th December 2024

USD Chicago PMI (Dec)

30-Dec-24, Mon, 20:15 IST

Currency: USD Importance: 3 Forecast: 40.20 Previous: 42.70 Notes: The Chicago Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms around the Chicago area. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. The Chicago PMI can be of some assistance in forecasting the ISM manufacturing PMI.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Historical Impact: EURUSD USDJPY

Major Markets Closed or Closing Early

31-Dec-24, Tue, 5:30 IST

Currency: Global Importance: 3 Notes: Major Global markets will either be closed or have reduced trading hours due to New Year's Eve.

CNY Manufacturing PMI (Dec)

31-Dec-24, Tue, 7:00 IST

Currency: CNY Importance: 3 Forecast: 50.30 Previous: 50.30 Notes: China Manufacturing Purchasing Managers Index (PMI) provides an early indication each month of economic activities in the Chinese manufacturing sector. It is compiled by China Federation of Logistics & Purchasing (CFLP) and China Logistics Information Centre (CLIC), based on data collected by the National Bureau of Statistics (NBS).Li & Fung Research Centre is responsible for drafting and disseminating the English PMI report. Every month questionnaires are sent to over 700 manufacturing enterprises all over China. The data presented here is compiled from the enterprises responses about their purchasing activities and supply situations. The PMI should be compared to other economic data sources when used in decision-making.
A reading that is stronger than forecast is generally supportive (bullish) for the CNY , while a weaker than forecast reading is generally negative (bearish) for the CNY.
Historical Impact: USDCNH

Major Markets Closed

01-Jan-25, Wed, 5:30 IST

Currency: Global Importance: 3 Notes: Major Global markets will be closed in observance of New Year's Day.

Markets Closed: Swiss, Russia, NZ, Japan

02-Jan-25, Thu, 5:30 IST

Currency: Global Importance: 3 Notes: Markets in Switzerland, Russia, New Zealand, and Japan will remain closed due to holidays.

USD Initial Jobless Claims

02-Jan-25, Thu, 19:00 IST

Currency: USD Importance: 3 Forecast: 219K Previous: 220K Notes: Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week.
A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD.
Historical Impact: EURUSD USDJPY

USD Manufacturing PMI (Dec)

02-Jan-25, Thu, 20:15 IST

Currency: USD Importance: 3 Forecast: 49.70 Previous: 48.30 Notes: The Manufacturing Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms throughout the country. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge. While manufacturing accounts for a far smaller percentage of economic output than services, it is far more cyclical and is therefore a useful indicator of where in the economic cycle the economy is currently situated.
A reading that is stronger than forecast is generally supportive (bullish) for the USD while a weaker than forecast reading is generally negative (bearish) for the USD.
Historical Impact: EURUSD USDJPY

Crude Oil Inventories

02-Jan-25, Thu, 21:30 IST

Currency: Global Importance: 3 Forecast: -4.237M Notes: The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.
If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.
Historical Impact: USOILRoll

Markets Closed: Japan

03-Jan-25, Thu, 5:30 IST

Currency: Global Importance: 3 Notes: Market in Japan will remain closed due to holidays.

USD ISM Manufacturing PMI

03-Jan-25, Thu, 20:30 IST

Currency: USD Importance: 3 Forecast: 48.40 Notes: The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report on Business is based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies across the United States. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers Inventories, Employment, and Prices), a diffusion index is calculated by adding the percent of positive responses plus one-half of those responding the same (considered positive). The resulting single index number is then seasonally adjusted.
The PMI is a composite index based on the seasonally adjusted diffusion indices for five of the indicators with differing weights: New Orders --30% Production --25% Employment --20% Supplier Deliveries --15% and Inventories -- 10%.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
Historical Impact: EURUSD USDJPY

USD ISM Manufacturing Prices (Dec)

03-Jan-25, Thu, 20:30 IST

Currency: USD Importance: 3 Forecast: 50.30 Notes: The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report on Business is based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers Inventories, Employment, and Prices), this report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction and the diffusion index. Responses are raw data and are never changed.
The diffusion index includes the percent of positive responses plus one-half of those responding the same (considered positive). The resulting single index number is then seasonally adjusted to allow for the effects of repetitive intra-year variations resulting primarily from normal differences in weather conditions, various institutional arrangements, and differences attributable to non-moveable holidays. All seasonal adjustment factors are supplied by the U.S. Department of Commerce and are subject annually to relatively minor changes when conditions warrant them.
The PMI is a composite index based on the seasonally adjusted diffusion indices for five of the indicators with varying weights: New Orders --30% Production --25% Employment --20% Supplier Deliveries --15% and Inventories -- 10%.
The Prices Paid subcategory is a diffusion index calculated by adding the percent of responses indicating they paid more for inputs plus one-half of those responding that they paid the same for inputs. The resulting single index number is then seasonally adjusted.
The Prices Paid diffusion index is one of a number of indicators pointing to the degree of inflationary pressures in the economy.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
Historical Impact: EURUSD USDJPY

Fed Interest Rate Decision

30-Jan-25, Thu, 0:30 IST

Currency: USD Importance: 3 Forecast: 4.35% Previous: 4.35% Notes: The Federal Reserve's interest rate decision impacts borrowing costs and currency valuation. A higher rate is generally bullish for the USD.

Source: Bloomberg, ADSS, News Articles, Company Research. Notes as of 29th December 2024, 8 PM.
For historical data, please visit: https://quantwater.tech/resources