Economic calendar: US PPI and FOMC minutes in markets spotlight

European session with slightly lower opening
PPI inflation reading from the US and the FOMC minutes in the financial markets spotlight

Today's macro calendar is not particularly abundant but there are two very important publications scheduled. In particular, the PPI data from the US (14:30) and the FOMC minutes from the last meeting (20:00) are likely to cause increased volatility on the indices. Uniquely, PPI will be published today before CPI inflation so investors may build some expectations for tomorrow's CPI release (also published at 2:30 pm) based on this reading.

Moreover, we have a great deal of speeches on the calendar from representatives of the European Central Bank and the Fed - surely the market will also follow them closely today and look for confirmation of the general 'dovish narrative' of the last two days. Although the Asian session passed today again under the dictates of buyers driven by 'pivot' expectations in the US and reports of a broader stimulus package in China's economy - the European market opening is in mixed mood.

Macro calendar

ECB 5-year inflation expectations (10:00) Expectations: 2.5% vs. 2.4% previously (3.4% previous annual inflation rate expectations)

PPI inflation, in the US. Expectations (14:30)

Headline reading y/y: 1.6% Previously: 1,6%
Headline reading m/m: 0.3% Previous: 0,7%
Core reading y/y: 2.3% Previous: 2,2%
Core reading m/m: 0.2% Previous: 0,2%

Canadian building permits (14:30). Expectations: 1.2% Previously: -1,5%

API oil inventories (10:30 pm). Expectations: -4.21 million (with an expected 3.94 million increase in gasoline inventories)

FOMC minutes from the September Fed meeting (8:00 pm)

Central bankers speeches

09:15 BST - Fed Bowman
09:15 BST - ECB Knot
11:00 BST- Riksbank Bunge
12:00 BST - ECB de Cos
15:15 BST - Fed Waller
16:15 BST - ECB Villeroy
17:15 BST - Fed Bostic
21:30 BST - Fed Collins

8 January 2026, 6:57 PM

Daily summary: exceptionally low US trade deficit; dollar remains strong 📌

8 January 2026, 5:10 PM

NY Fed Survey: higher inflation expectations, but also higher equity price expectations 📄🔎

8 January 2026, 1:31 PM

BREAKING: EURUSD reacts to US jobless claims & labor costs data 🗽

8 January 2026, 10:20 AM

BREAKING: PPI in Eurozone higher than expected, unemployment falls

Economic reports

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Economic calendar: US PPI and FOMC minutes in markets spotlight

Macro calendar

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