The Week Ahead: Key Economic Events to Watch for January 26 – 30, 2026

This week features several high-impact economic events that could drive volatility across major currencies and financial markets. Key inflation data, central bank interest rate decisions, employment figures, and growth indicators from Australia, Canada, and the United States will be closely watched by traders and investors. In addition, major corporate earnings releases may influence equity markets and overall risk sentiment.

High Impact Economic Events

Wednesday 02:30 am (GMT+2) – Australia: CPI m/m (AUD)

Wednesday 16:45 (GMT+2) – Canada: Overnight Rate (CAD)

Wednesday 21:00 (GMT+2) – USA: Federal Funds Rate (USD)

Thursday 15:30 (GMT+2) – USA: Unemployment Claims (USD)

Friday 15:30 (GMT+2) – Canada: GDP m/m (CAD)

Friday 15:30 (GMT+2) – USA: PPI m/m (USD)

Wednesday, January 28

02:30 am – Australia: CPI m/m (AUD)

The monthly Consumer Price Index (CPI) indicator is a key measure of inflation, tracking changes in the prices of goods and services across various categories of household expenditures. This data provides insight into consumer price trends, helping assess the cost of living and inflationary pressures. The CPI is used by policymakers, including central banks, to guide decisions on monetary policy, such as interest rates, and by businesses to adjust pricing strategies and contracts linked to inflation.

In November, consumer prices rose by 3.4% over the year to November 2025, easing from a 3.8% increase in the year to October, showing that inflation is gradually slowing. The biggest drivers of price rises over the past year were housing costs, which increased by 5.2%, followed by food and non-alcoholic beverages at 3.3%, and transport at 2.7%. On a monthly basis, prices were unchanged in November, recording 0.0% growth in original terms, while seasonally adjusted figures showed a modest 0.2% rise.

Economists expect the CPI to rise by 0.1% month over month in the next report.

16:45 – Canada: Overnight Rate (CAD)

The Bank of Canada uses the target for the overnight rate, also known as the policy interest rate, to control inflation. This rate influences other interest rates in the economy, affecting loans, mortgages, and savings. The Bank adjusts this rate to either stimulate economic growth by lowering it (encouraging spending) or to curb inflation by raising it (encouraging savings). The target rate is part of the Bank’s broader strategy to maintain economic stability.

In December, the Bank of Canada held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

Economists anticipate the rate will remain unchanged at 2.25%.

21:00 – USA: Federal Funds Rate (USD)

The Federal Reserve adjusts monetary policy by changing its target range for the federal funds rate, which impacts overnight borrowing rates for banks. Lowering the target, or “easing,” reduces interest rates to stimulate the economy during slow growth, low inflation, or high unemployment. Raising the target, or “tightening,” increases rates to cool an overheating economy, high inflation, or low unemployment. These rate changes affect broader financial conditions, influencing household and business spending, and ultimately impacting economic activity, employment, unemployment, and inflation.

In December, the Committee cut interest rates by 0.25%.

Economists forecast no further rate cuts at the next policy meeting.

Thursday, January 29

15:30 – USA: Unemployment Claims (USD)

An initial claim is filed by an unemployed individual seeking eligibility for unemployment insurance after leaving a job. This count serves as a leading economic indicator, reflecting labor market conditions.

In the week ending January 17, initial jobless claims edged up slightly to 200,000, while the four-week average fell to its lowest level in a year, pointing to continued resilience in the US labor market. The insured unemployment rate held steady at 1.2%, and continuing claims declined modestly.

Economists expect initial jobless claims to rise slightly to around 202,000 in the next report.

Friday, January 30

15:30 – Canada: GDP m/m (CAD)

Gross Domestic Product (GDP) is a key measure of the economic output of a country or region. It represents the total value of goods and services produced, minus intermediate consumption like raw materials or components. GDP can be calculated using methods such as the value-added approach, which looks at the contribution of each sector to the economy. When GDP grows, it indicates economic expansion, while a slowdown or negative GDP may signal a recession. It’s used as a benchmark for the overall health of an economy.

In October, economic activity weakened as real GDP fell by 0.3%, reversing the modest increase seen in September. The slowdown was widespread, with more than half of all industries recording declines. Goods-producing sectors dropped sharply, led by weaker manufacturing, while services activity also edged lower, partly due to labor stoppages that weighed on overall output.

Economists expect GDP to rise slightly by 0.1% in the next report.

15:30 – USA: PPI m/m (USD)

The Producer Price Index (PPI) measures the average change in prices received by producers for goods, services, and construction. The PPI covers a broad range of industries and is used alongside other economic indicators like the Consumer Price Index (CPI), which measures price changes from the buyer’s perspective. Growth in the index can have a positive effect on dollar quotes.

In November, producer prices increased modestly, with the Producer Price Index rising 0.2% for the month and up 3.0% from a year earlier. The gain was driven by higher goods prices, while service prices were unchanged. Core producer inflation, which excludes food, energy, and trade services, also rose 0.2% and climbed 3.5% over the year — the strongest annual increase since March.

Economists anticipate a figure of 0.2% in the next report.

Company Earnings (January 26– 30)

Wednesday, January 28: MSFT(Microsoft Corporation)

Wednesday, January 28: META(Meta Platforms, Inc.)

Wednesday, January 28: TSLA(Tesla, Inc.)

Wednesday, January 28: SBUX(Starbucks Corporation)

Wednesday, January 28: T (AT&T Inc.)

Thursday, January 29: V (Visa Inc.)

Thursday, January 29: MA (Mastercard Incorporated)

Thursday, January 29: CAT (Caterpillar Inc.)

Thursday, January 29: BX (Blackstone Inc.)

Friday, January 30: XOM (Exxon Mobil Corporation)

Friday, January 30: CVX (Chevron Corporation)

Friday, January 30: AXP (American Express Company)

Conclusion

Overall, the week ahead is packed with critical economic data and central bank decisions that could shape market direction. Inflation readings, interest rate outlooks, and growth indicators will be key in assessing the health of major economies, while a heavy slate of corporate earnings may add further volatility. Traders and investors should remain alert, as incoming data could significantly influence currency movements, equity markets, and overall risk sentiment.