As we move into the final week of January, global markets are preparing for several high-impact economic releases that could influence volatility across forex, equities, and commodities. With inflation data, central bank decisions, and growth indicators on the agenda, traders and investors will be closely monitoring developments from major economies. Below is a day-by-day breakdown of what to watch in the week ahead.

Monday – January 26

The trading week begins on a quieter note, with Australia observing a bank holiday, which may lead to reduced liquidity during the Asian session. While no major economic releases are scheduled, markets are expected to remain cautious as participants position themselves ahead of a data-heavy mid-week calendar. Early price action may be driven more by sentiment and technical levels than fundamentals.

Tuesday – January 27

Focus shifts to the United States, where key sentiment and manufacturing data will be released:

• CB Consumer Confidence Index – offering insight into consumer sentiment and spending expectations.

• Richmond Manufacturing Index – providing a regional view of manufacturing activity.

These indicators can shape short-term USD sentiment and help set expectations ahead of the Federal Reserve’s policy decision later in the week.

Wednesday – January 28

Wednesday is the most significant day of the week, featuring major releases across multiple economies.

From Australia, markets will receive:

• Monthly CPI

• Yearly CPI

• Trimmed Mean CPI

These inflation measures are closely watched by the Reserve Bank of Australia and can influence expectations around future monetary policy decisions.

From Canada, the Rate Statement and Overnight Rate decision will be announced. Traders will assess both the policy outcome and forward guidance from the Bank of Canada for clues on the future interest rate path.

The spotlight then turns to the United States, where the Federal Funds Rate decision will be released. While markets may largely anticipate the rate outcome, attention will be firmly on the accompanying statement for any changes in tone or guidance that could impact USD pairs and broader market sentiment.

Thursday – January 29

On Thursday, attention remains on the United States with the release of Unemployment Claims. This weekly data provides a timely snapshot of labor market conditions and can influence expectations around economic strength and monetary policy. Unexpected changes in claims figures often result in short-term volatility, particularly in USD-related instruments.

Friday – January 30

The week concludes with important growth and inflation-related data.

From Canada, the release of Monthly GDP will offer insight into economic performance and momentum, with potential implications for the Canadian dollar.

Later in the day, the United States will publish PPI and Core PPI, providing a view of inflation pressures at the producer level. These figures can influence inflation expectations and shape market positioning as traders head into the new month.

Final Thoughts

With central bank decisions, inflation data, and growth indicators dominating the calendar, this week has the potential to generate increased volatility across global markets. Staying informed, managing risk carefully, and reacting to data developments in real time will be essential for navigating the week ahead.

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