Happy New Year - PMI will start the economic calendar from 30Dec24
Public Holidays
There will be no public holidays in China for the coming week.
China America, Singapore and Hong Kong are closed on New Year’s Day (01 Jan 2025). Some countries operate half a day on New Year’s Day Eve (31 Dec 2024).
Here is wishing all a Blessed New Year (2025).
Economic Calendar (30Dec24)
Notable Highlights
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Chicago PMI will be revealed with a forecast of 42.8. This implies a contraction of the sector in Chicago.
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China's manufacturing PMI will also be reviewed. A forecast of 50.3 implies a slight expansion in the sector. China is a global factory and this can also be seen as a barometer of global demand.
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S&P global US manufacturing PMI will also be announced. The forecast of 48.3 implies a contraction in the manufacturing sector.
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The ISM manufacturing PMI will be announced. This is another measurement of the growth or contraction of the manufacturing sector. ISM manufacturing prices reflect the inflationary or deflationary pressure faced by manufacturers. An amount higher than 50 will suggest some inflationary pressures.
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Initial jobless claims will be announced. The Federal Reserve uses this as one of the key macro data references as it balances inflation and employment in the economy.
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Crude Oil Inventories can be seen as forward indicators of market demand and consumption. If the trend of excess inventories continues, demand erosion can lead to reduced production & weakening consumer spending.
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