Photo credit: www.investing.com
Pivotal Economic Data Set to Influence Financial Markets
On Friday, January 24, 2025, traders will face a crucial day in the financial markets with key economic reports expected to shape market trends. Central to this focus will be manufacturing and services PMI figures, alongside existing home sales data, all of which are instrumental in gauging the overall health of the U.S. economy.
Key Economic Announcements to Monitor
9:45 AM ET – Manufacturing PMI (January): Anticipated at 49.8 compared to the previous 49.4. This index is essential for assessing the activity levels of purchasing managers within the manufacturing sector.
9:45 AM ET – Services PMI (January): Expected to come in at 56.4, slightly down from the prior 56.8. This statistic is derived from surveys of executives in the private service industries and provides insight into service sector stability.
10:00 AM ET – Existing Home Sales (December): Projected at 4.19 million, up from 4.15 million previously. This report serves as a key indicator of the U.S. housing market’s robustness.
Additional Economic Indicators to Watch
9:45 AM ET – S&P Global Composite PMI (January): The previous figure stood at 55.4, providing a broad overview of business activity across both sectors.
10:00 AM ET – Michigan Consumer Expectations (January): Forecast at 70.2, down from 73.3. This component offers insights into consumer outlook regarding future economic conditions.
10:00 AM ET – Michigan Consumer Sentiment (January): Expected to register at 73.2, slightly below the last report of 74.0. This gauge reflects perceptions of current and anticipated economic circumstances.
10:00 AM ET – Existing Home Sales Month-over-Month (December): The previous report indicated a change of 4.8%, capturing the fluctuation in residential sales.
1:00 PM ET – Baker Hughes U.S. Rig Count: The prior count was 478. This statistic is regarded as a benchmark for evaluating oil product demand.
1:00 PM ET – Total Baker Hughes Rig Count: Previous totals were at 580, offering insights into drilling activity across multiple sectors.
3:30 PM ET – CFTC S&P 500 Speculative Positions: Previously reported at -30.5K, providing an understanding of market sentiment among speculative traders.
3:30 PM ET – CFTC Speculative Positions: The previous count stood at 10.5K, indicating speculative actions in tech-heavy markets.
3:30 PM ET – CFTC Gold Speculative Positions: Having been at 279.4K, this report unveils speculative interest in gold trading.
3:30 PM ET – CFTC Crude Oil Speculative Positions: Last reported at 306.3K, giving an indication of speculative patterns within crude oil futures.
Further Economic Insights
10:00 AM ET – Michigan 1-Year Inflation Expectations (January): Expected to rise to 3.3% from the previous 2.8%, this survey gauges consumer expectations for inflation over the coming year.
10:00 AM ET – Michigan 5-Year Inflation Expectations (January): Anticipated at 3.3%, up from 3.0%, this data reflects median expected price changes for the next five years.
10:00 AM ET – Michigan Current Conditions (January): Forecasted at 77.9 compared to the previous 75.1, this statistic measures consumer assessments of the current economic climate.
11:00 AM ET – KC Fed Manufacturing Index (January): Previous value was -5, reflecting insights into manufacturing activity in the region.
11:00 AM ET – KC Fed Composite Index (January): Last recorded at -4, this index provides a wider perspective on economic condition in the Tenth District.
3:30 PM ET – CFTC Aluminum Speculative Net Positions: Previous figure was 3.4K, illustrating speculative positioning in aluminum futures.
3:30 PM ET – CFTC Copper Speculative Positions: Previously reported at 11.8K, indicating speculative interest in copper trading.
3:30 PM ET – CFTC Silver Speculative Positions: Last documented at 46.1K, showing speculative staking in the silver market.
3:30 PM ET – CFTC Natural Gas Speculative Positions: Reported previously at -71.6K, reflecting speculation trends in the natural gas market.
3:30 PM ET – CFTC Wheat Speculative Positions: Previously at -82.2K, indicating speculation in wheat futures.
3:30 PM ET – CFTC Corn Speculative Positions: Last noted at 348.1K, demonstrating speculative interest in corn trading.
3:30 PM ET – CFTC Soybeans Speculative Positions: Previously stood at 14.5K for soybean futures positioning.
For ongoing updates and a detailed overview of these economic indicators, check our Economic Calendar.
This content has been generated with the assistance of AI, followed by editorial review for accuracy.
Source
www.investing.com