Economic calendar: US labour market set for a rebound❓🇺🇸 (07.01.2026)

Markets are holding their breath ahead of a series of scheduled macroeconomic releases that will shape expectations for Friday’s US employment report (NFP).

In the US, attention focuses on both the ADP private employment change and JOLTS job openings. Investors expect the data to indicate a stabilizing labor market following recent Fed rate cuts, though demand for new hires is likely to remain subdued. The calendar is further packed with ISM data on services activity and new manufacturing orders.

In Europe, alongside German retail sales, German employment data, UK construction PMI, and the preliminary Eurozone inflation reading for December will be published. The abundance of reports is expected to stir subdued volatility in FX markets and local indices.

Economic calendar for today (all times GMT):

07:00, Germany – Retail Sales for November:

• German Retail Sales: actual 1.1% YoY; previous 2.1% YoY

• German Retail Sales: actual -0.6% MoM; forecast 0.2% MoM; previous 0.3% MoM

08:55, Germany – Employment Data for December:

• German Unemployment Change: forecast 5K; previous 1K

• German Unemployment Rate: forecast 6.3%; previous 6.3%

• German Unemployment: previous 2.973M

• German Unemployment n.s.a.: previous 2.885M

09:30, UK – PMI Data for December:

• S&P Global Construction PMI: forecast 42.4; previous 39.4

09:30, UK – Housing Equity Withdrawal:

• forecast -8.7B QoQ; previous -16.1B QoQ

10:00, Eurozone – Inflation Data for December:

• CPI: previous -0.3% MoM

• CPI: forecast 2.0% YoY; previous 2.1% YoY

• HICP ex Energy & Food: previous -0.4% MoM

• HICP ex Energy & Food: forecast 2.4% YoY; previous 2.4% YoY

• Core CPI: forecast 2.4% YoY; previous 2.4% YoY

• Core CPI: previous -0.5% MoM

10:30, Germany – 10-Year Bund Auction:

• previous 2.670%

13:15, US – Employment Data for December:

• ADP Nonfarm Employment Change: forecast 49K; previous -32K

15:00, Canada – PMI Data for December:

• Ivey PMI: forecast 49.5; previous 48.4

15:00, US – ISM Data for December:

• ISM Non-Manufacturing Prices: previous 65.4

• ISM Non-Manufacturing PMI: forecast 52.2; previous 52.6

• ISM Non-Manufacturing New Orders: previous 52.9

• ISM Non-Manufacturing Employment: previous 48.9

• ISM Non-Manufacturing Business Activity: previous 54.5

15:00, US – Durable Goods for October:

• Factory Orders ex Transportation: previous 0.2% MoM

• Factory Orders: forecast -1.1% MoM; previous 0.2% MoM

• Durables Ex Transportation: previous 0.2% MoM

• Durables Ex Defense: forecast -1.5% MoM; previous -1.5% MoM

15:00, Canada – Ivey PMI n.s.a.: previous 44.5

15:00, US – JOLTS Job Openings for November:

• forecast 7.610M; previous 7.670M

15:30, US – EIA Data:

• EIA Weekly Distillates Stocks: previous 4.977M

• EIA Weekly Refinery Utilization Rates: previous 0.1% WoW

• Heating Oil Stockpiles: previous 0.134M

• Gasoline Production: previous -0.352M

• Distillate Fuel Production: previous -0.076M

• Crude Oil Imports: previous -0.957M

• EIA Refinery Crude Runs: previous 0.071M WoW

• Crude Oil Inventories: forecast -1.200M; previous -1.934M

• Gasoline Inventories: previous 5.845M

• Cushing Crude Oil Inventories: previous 0.543M

21:10, US – FOMC Member Bowman Speaks

00:30 (next day), Australia – Balance of Trade for November:

• Imports: previous 2.0% MoM

• Exports: previous 3.4% MoM

• Trade Balance: forecast 5.550B; previous 4.385B