Economic Calendar: US Data Distorted by Government Shutdown

Key takeaways

French inflation miss: Annual CPI fell to 0.3% against an expected 0.6%, signaling a sharp cooling of price pressures in the Eurozone's second-largest economy.
US data blackout: The ongoing government shutdown has halted BLS operations, leading to an official delay of this Friday's Non-Farm Payrolls report.
Corporate focus: Markets await AMD's results tonight, with the chipmaker expected to post a 27% revenue surge to $9.67bn amid high AI-driven expectations.

Key takeaways

French inflation miss: Annual CPI fell to 0.3% against an expected 0.6%, signaling a sharp cooling of price pressures in the Eurozone's second-largest economy.
US data blackout: The ongoing government shutdown has halted BLS operations, leading to an official delay of this Friday's Non-Farm Payrolls report.
Corporate focus: Markets await AMD's results tonight, with the chipmaker expected to post a 27% revenue surge to $9.67bn amid high AI-driven expectations.

The global macroeconomic schedule for the European and North American sessions is relatively light following earlier significant releases. Markets have already digested the Reserve Bank of Australia’s decision to hike interest rates—a move that defied forecasts from several investment banks that had expected the RBA to hold steady for longer. Meanwhile, inflation data out of France continues to surprise to the downside. French annual CPI slowed to just 0.3% year-on-year, missing the 0.6% consensus and cooling significantly from the previous 0.8%. On a monthly basis, prices fell by a sharp 0.3%.

The primary focus for market participants this week remains the operational paralysis in Washington. The ongoing US government shutdown has shuttered key federal agencies, including the Bureau of Labor Statistics (BLS). Consequently, the highly anticipated Non-Farm Payrolls (NFP) report, originally slated for this Friday, has been officially delayed.

In the absence of top-tier US employment data, today’s agenda shifts to central bank rhetoric, private inventory data, and New Zealand’s labor market update. Investors also remain laser-focused on the corporate earnings cycle, with AMD set to report after the closing bell in New York.

Economic Calendar (All times GMT)

13:00 – Fed’s Barkin speaks
14:40 – Fed’s Bowman speaks
21:40 – API Weekly Crude Oil Stock Report
21:45 – New Zealand Labour Market Data (Q4):
- Employment Change: Exp. 0.5% q/q; Prev. 0.5% q/q
- Labor Cost Index: Exp. 0.3% q/q; Prev. 0.0% q/q
- Unemployment Rate: Exp. 5.3%; Prev. 5.3%
22:00 – Australia Services PMI: Exp. 56; Prev. 51.1

Corporate Earnings

AMD (AMD.US) – After market close
Merck (MRK.US) – Pre-market
PepsiCo (PEP.US) – Pre-market
Pfizer (PFE.US) – Pre-market

AMD is expected to post revenue of $9.67bn, representing a 27% year-on-year increase. Should the company meet these targets, it would build on the momentum from Q3, where revenues beat the consensus by 5%. Consensus EPS stands at $1.32. Historically, AMD has a track record of moderate outperformance, beating revenue estimates by an average of just over 2% over the past eight quarters.

2 February 2026, 4:00 PM

Palantir Preview: Perfection already priced in?

30 January 2026, 6:46 AM

Apple’s Record Quarter: iPhone, Services, and ‘Invisible’ AI. Is a Return to the Throne Imminent?

27 January 2026, 5:00 PM

Tesla Ahead of Earnings: Moderate Expectations and Weak Fundamentals

27 January 2026, 4:00 PM

ASML: Will Europe’s technology hegemon beat expectations once again?

Economic reports
Stocks

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days

Economic Calendar: US Data Distorted by Government Shutdown

Economic Calendar (All times GMT)

Corporate Earnings

Join over 2 000 000 XTB Group Clients from around the world