Economic calendar: PMI reports as the key publications on the second day of the New Year 📄

Today, January 2, 2025, many global stock markets remain closed due to the New Year holiday. During the Asian session, major markets such as Japan and New Zealand are closed. Stock markets in China, Singapore, and Australia are open. In the European session, major stock exchanges like Germany, France, and the UK will be open. The U.S. session will operate during its regular trading hours.

Expected volatility today may remain subdued due to the holiday period. However, early trading hours show a general increase in risk appetite and gains in equity markets. Investors' focus today will primarily be on the publication of PMI reports from the world's key economies.

Detailed schedule for the day:

08:15 AM GMT, Spain - PMI Data for December:

• HCOB Spain Manufacturing PMI: forecast 53.6; previous 53.1;

08:30 AM GMT, Switzerland - PMI Data:

• procure.ch PMI: forecast 48.4; previous 48.5;

08:45 AM GMT, Italy - PMI Data for December:

• HCOB Italy Manufacturing PMI: forecast 44.9; previous 44.5;

08:50 AM GMT, France - PMI Data for December:

• HCOB France Manufacturing PMI: forecast 41.9; previous 43.1;

08:55 AM GMT, Germany - PMI Data for December:

• HCOB Germany Manufacturing PMI: forecast 42.5; previous 43.0;

09:00 AM GMT, Euro Zone - PMI Data for December:

• HCOB Eurozone Manufacturing PMI: forecast 45.2; previous 45.2;

09:30 AM GMT, United Kingdom - PMI Data for December:

• S&P Global/CIPS UK Manufacturing PMI: forecast 47.3; previous 48.0;

01:30 PM GMT, United States - Employment Data:

• Jobless Claims 4-Week Avg.: previous 226.50K;
• Initial Jobless Claims: forecast 222K; previous 219K;
• Continuing Jobless Claims: previous 1,910K;

02:45 PM GMT, United States - PMI Data for December:

• S&P Global US Manufacturing PMI: forecast 48.3; previous 49.7;

04:00 PM GMT, United States - EIA Data:

• Gasoline Inventories: previous 1.630M;
• EIA Weekly Distillates Stocks: previous -1.694M;
• Crude Oil Inventories: forecast -2.400M; previous -4.237M;