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A Crucial Week for Markets: CPI, GDP and Global PMIs in Focus

A packed global macro week featuring U.S. CPI and GDP, China growth data, central bank decisions, and the World Economic Forum in Davos. All key events adjusted to U.S. Eastern Time.

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Olivia Carter Olivia Carter
macro calendar
Photo: pixabay

From an editorial perspective, the significance lies in the concentration of macro signals. This week brings together inflation data, growth figures, central bank decisions and the World Economic Forum in Davos — all within a tight window that could reshape market expectations.

All times below are listed in U.S. Eastern Time (ET, UTC-5).

Monday, January 19

  • World Economic Forum in Davos — Day 1 (all day)
  • U.S. markets closed — Martin Luther King Jr. Day
  • China — GDP Q4 2025 (9:00 pm, Sun)
  • Eurozone — CPI (Dec) 5:00 am
  • Canada — CPI (Dec) 8:30 am
  • China — Loan Prime Rate (LPR) 8:15 pm

Tuesday, January 20

  • World Economic Forum in Davos — Day 2
  • UK — Unemployment rate (Nov) 2:00 am
  • Germany — ZEW Economic Sentiment (Jan) 5:00 am
  • Eurozone — ZEW Economic Sentiment (Jan) 5:00 am
  • U.S. — ADP Employment Report 8:15 am
  • U.S. crude oil inventories (EIA) 10:30 pm

Wednesday, January 21

  • World Economic Forum in Davos — Day 3
  • UK — CPI (Dec) 2:00 am
  • ECB President Christine Lagarde speaks 2:30 am
  • South Africa — CPI (Dec) 3:00 am
  • IEA Monthly Oil Market Report 4:00 am
  • U.S. — Speech by Donald Trump (tentative) 8:30 am
  • U.S. — Pending Home Sales (Dec) 10:00 pm
  • Russia — CPI 11:00 am

Thursday, January 22

  • World Economic Forum in Davos — Day 4
  • U.S. — CPI (Dec) 8:30 am
  • U.S. — GDP Q3 2025 (advance) 8:30 am
  • U.S. — Initial Jobless Claims 8:30 am
  • U.S. — PCE Price Index (Nov) 10:00 am
  • U.S. natural gas inventories (EIA) 10:30 pm
  • U.S. — Kansas Fed Manufacturing Index (Jan) 11:00 am
  • U.S. crude oil inventories (EIA) 2:00 pm
  • New Zealand — CPI Q4 2025 4:45 pm
  • Australia — PMI (prelim, Jan) 5:00 pm
  • Japan — CPI (Dec) 6:30 pm
  • Japan — PMI (prelim, Jan) 7:30 pm
  • Bank of Japan rate decision 10:00 pm

Friday, January 23

  • World Economic Forum in Davos — Final day
  • BoJ press conference 1:30 am
  • India — PMI (prelim, Jan) 2:00 am
  • Germany — PMI (prelim, Jan) 3:30 am
  • Eurozone — PMI (prelim, Jan) 4:00 am
  • UK — PMI (prelim, Jan) 4:30 am
  • Russia — Trade balance 8:00 am
  • U.S. — S&P Global PMI (prelim, Jan) 9:45 am
  • U.S. — Michigan Consumer Sentiment (Jan) 10:00 pm
  • U.S. — Consumer inflation expectations 10:00 pm
  • Baker Hughes rig count 1:00 pm

Inflation data and global PMIs dominate the narrative, while Davos discussions and central-bank signals could amplify volatility across currencies, rates and equities.

Macro Calendar
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