- Flash CPI in Germany is the highlight of the European session
- ISM services, claims in the US are the figures of the day
- Market focus on policy tightening after hawkish FOMC minutes yesterday
Today’s calendar is a bit of a breather between yesterday’s ADP and FOMC minutes and tomorrow’s NFP. However, traders will waste no time in debating the impact of suddenly oh-so hawkish Fed on the markets. Because the pace of expected tightening seems to be taking markets by surprise the focus can be on weekly claims – the data’s been the strongest in more than 50 years!
9:30 am (GMT) – UK – final December services PMI (consensus 53.2 points)
10:00 am – EMU – November PPI (consensus 23%)
12:30 am – US – December Challenger report (planned job cuts)
1:00 pm – Germany – December CPI (consensus 5.1% y/y)
1:30 pm – US – November trade balance (consensus -$69.9 bilion), initial claims (consensus 200k)
3:00 pm – US – December ISM services (consensus 66.9 points), November durable orders (consensus +2.5% m/m)
BREAKING: US Labor Market Stronger Than Expected, While Wage Pressure Eases. EURUSD gains!🚨
📈 EURUSD up 0.4% before the NFP
Economic calendar: NFP and central bankers to fight for the spotlights with war updates (08.05.2026)
NOK surges following Norges Bank's rate hike
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