Economic calendar: delayed PCE report is today’s key release 🔎

Today’s macroeconomic calendar is relatively light. The only report of global importance is the delayed PCE report for September. However, the fact that it reflects September data further reduces its significance, and market reaction is weaker than it would be to a fresh release.

In addition, we will also receive the preliminary University of Michigan report for December, as well as labor-market data from Canada — unemployment rate and employment change.

Detailed calendar for the day:

07:00 AM BST, Germany - Durable Goods for October:

German Factory Orders: forecast 0.3% MoM; previous 1.1% MoM;

10:00 AM BST, Euro Zone - GDP data:

GDP: forecast 1.4% YoY; previous 1.5% YoY;
GDP (Q3): forecast 0.2% QoQ; previous 0.1% QoQ;

01:30 PM BST, Canada - Employment Data for November:

Employment Change: forecast -1.5K; previous 66.6K;
Full Employment Change: previous -18.5K;
Part Time Employment Change: previous 85.1K;
Unemployment Rate: forecast 7.0%; previous 6.9%;
Avg hourly wages Permanent employee: previous 4.0%;
Participation Rate: previous 65.3%;

03:00 PM BST, United States - Inflation Data for September:

PCE price index: forecast 0.3% MoM; previous 0.3% MoM;
PCE Price index: forecast 2.8% YoY; previous 2.7% YoY;
Core PCE Price Index: forecast 0.2% MoM; previous 0.2% MoM;
Core PCE Price Index: forecast 2.9% YoY; previous 2.9% YoY;
Personal Income: forecast 0.3% MoM; previous 0.4% MoM;
Personal Spending: forecast 0.3% MoM; previous 0.6% MoM;

03:00 PM BST, United States - Durable Goods for September:

Factory Orders: previous 1.4% MoM;
Factory orders ex transportation: previous 0.1% MoM;
Durables Excluding Transport: previous 0.6% MoM;
Durables Excluding Defense: forecast 0.1% MoM; previous 0.1% MoM;

03:00 PM BST, United States - University of Michigan inflation report for December:

Michigan 1-Year Inflation Expectations: previous 4.5%;
Michigan 5-Year Inflation Expectations: previous 3.4%;
Michigan Consumer Expectations: forecast 52.0; previous 51.0;
Michigan Consumer Sentiment: previous 51.0;
Michigan Current Conditions: forecast 51.3; previous 51.1;

03:10 PM BST, Euro Zone - ECB's Lane Speaks

5 December 2025, 7:01 AM

BREAKING: Germany industrial orders for October higher than expected; EURUSD gains 📌

5 December 2025, 6:37 AM

Morning wrap (05.12.2025)

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Economic calendar: delayed PCE report is today’s key release 🔎

Detailed calendar for the day:

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