Economic calendar: Final manufacturing PMIs on the agenda

• European indices set to open higher
• Final manufacturing PMI from Europe and the United States
• NFP report and FOMC minutes later into the week

European index futures point to a higher opening of the cash session on the Old Continent today, with EuroStoxx futures trading around 0.6% higher and DAX futures gaining 0.3%. Japanese yen is the worst performing G10 currency, following a 7.6 magnitude earthquake that hit Japan over the weekend. Oil trades 1.7% higher after US army sank 3 Houthi boats over the weekend, responding to an attack on the commercial vessel in the Red Sea. Bitcoin caught a bid at the beginning of a new year and climbed above $45,000 mark.

Economic calendar for the day ahead is packed with manufacturing PMI releases for December. However, majority of those will be revisions and are unlikely to have a major impact on the markets. Apart from PMIs, traders will also be offered US construction spending report for November. Things get more interesting later into the week with release of US and Canadian jobs data, European inflation as well as FOMC minutes.

8:00 am GMT - Poland, manufacturing PMI for December. Expected: 48.5. Previous: 48.7

8:15 am GMT - Spain, manufacturing PMI for December. Expected: 46.9. Previous: 46.3

8:45 am GMT - Italy, manufacturing PMI for December (final). First release: 44.4

8:50 am GMT - France, manufacturing PMI for December (final). First release: 42.0

8:55 am GMT - Germany, manufacturing PMI for December (final). First release: 43.1

9:00 am GMT - Euro area, manufacturing PMI for December (final). First release: 44.2

9:30 am GMT - UK, manufacturing PMI for December (final). First release: 46.4

2:45 pm GMT - US, manufacturing PMI for December (final). First release: 48.2

3:00 pm GMT - US, construction spending for November. Expected: 0.5% MoM. Previous: 0.6% MoM

Key events to watch in the later part of the week

Wednesday

• 3:00 pm GMT - US, manufacturing ISM for December
• 3:00 pm GMT - US, JOLTS report for November
• 7:00 pm GMT - FOMC minutes
• 9:40 pm GMT - API report on oil inventories

Thursday

• Final services PMIs
• 12:30 pm GMT - US, Challenger report for December
• 1:00 pm GMT - Germany, CPI inflation for December
• 1:15 pm GMT - US, ADP report for December
• 3:30 pm GMT - EIA report on natural gas inventories
• 4:00 pm GMT - DOE report on oil inventories 

Friday

• 7:00 am GMT - Germany, retail sales for November
• 9:00 am GMT - Poland, CPI inflation for December
• 10:00 am GMT - Euro area, CPI inflation for December
• 1:30 pm GMT - US, NFP report for December
• 1:30 pm GMT - Canada, jobs report for December
• 3:00 pm GMT - US, services ISM for December
• 3:00 pm GMT - US, factory orders for November