Few macroeconomic reports are expected between December 29, 2025, and January 4, 2026, as the week marks the transition into the New Year. With global celebrations and bank holidays, Forex trading resumes on January 2, but volumes typically remain low until the following week after January 4. Despite the quiet period, sharp market moves are still possible.
Traders will be watching for the December FOMC minutes on Tuesday and key Chinese data set for release during the Asian session on December 31.
Note: During the coming week, new events may be added to the calendar, and/or some scheduled events may be canceled. GMT time
The article covers the following subjects:
Major Takeaways
- Monday: No important macroeconomic statistics are scheduled.
- Tuesday: December FOMC meeting minutes release.
- Wednesday: Chinese PMI figures.
- Thursday: New Year’s Eve. No important macroeconomic statistics are scheduled.
- Friday: No important macroeconomic statistics are scheduled.
- Key event of the week: December FOMC meeting minutes release.
Monday, December 29
There are no important macroeconomic statistics scheduled to be released.
Tuesday, December 30
Trading volumes on Forex will be minimal. There are no important macroeconomic statistics scheduled to be released. However, investors will closely study the minutes of the December FOMC meeting, due to be published in the second half of the US trading session.
19:00 – USD: Federal Open Market Committee Meeting Minutes
The FOMC minutes release is extremely important for determining the course of the Fed’s current policy and the prospects for US interest rate hikes. Volatility in financial markets usually increases during the minutes’ publication, as they often reveal changes or provide clarifications from the latest FOMC meeting.
Following the meetings in the first half of 2025, the Fed’s interest rate remained at 4.50%. In September, it was reduced by 0.25% for the first time in 2025. In October, the Fed lowered its benchmark interest rate by 25 basis points to 3.50%–3.75%.
During the press conference following the December meeting, Fed Chair Jerome Powell noted the US central bank’s willingness to “wait and see how the economy evolves from here.” However, a rate hike is not the baseline scenario.
The next Fed meeting is scheduled for January 27–28. The central bank is widely expected to keep rates unchanged, while markets anticipate two rate cuts in 2026. Investors will be closely watching the meeting minutes for greater clarity on the Fed’s outlook and policy path.
The dovish tone of the minutes will positively impact stock indices and negatively affect the US dollar. The hawkish Fed’s rhetoric on monetary policy may boost the greenback.
Wednesday, December 31
The world is celebrating New Year’s Eve. Banks will be closed. European and Asian stock exchanges will be open until around noon. Trading volumes will be minimal.
01:30 – CNY: China’s Manufacturing and Services PMI by the China Federation of Logistics and Purchasing (CFLP)
This indicator is an essential gauge of the overall Chinese economy. An indicator reading above 50 is positive for the yuan, while a value below 50 is negative for the currency.
Previous values: 49.2, 49.0, 49.8, 49.4, 49.7, 49.5, 50.5, 50.2, 49.1 in January 2025, 50.1 (December 2024), 50.3, 50.1, 49.8, 49.1, 49.4, 49.5, 50.4, 50.8, 49.2, 49.0, 49.5, 50.2, 49.3, 49.0, 48.8, 49.2, 51.9, 52.6, 50.1 in January. The relative rise in the index above 50 strengthens the yuan. Data above 50 indicates increased economic activity, positively affecting the national currency. Conversely, if the index value is below 50, the yuan will face pressure and probably decline.
Likewise, the services sector PMI assesses the state of the services sector in the Chinese economy. An indicator result above 50 is seen as positive for the yuan. Previous values: 49.5, 50.1, 50.0, 50.3, 50.5, 50.3, 50.8, 50.4, 50.2 in January 2025, 52.2 in December 2024, 50.0, 50.2, 50.0, 50.3, 50.2, 50.5, 51.2, 53.0, 50.7, 50.4, 50.6, 51.7, 51.5, 53.2, 54.5, 56.4, 58.2, 56.3, 54.4 in January. Despite the relative decline, the indicator is still above the 50 value, likely influencing the yuan positively. Conversely, the indicator below 50 suggests that the yuan will face pressure and probably decline.
01:45 – CNY: RatingDog China Manufacturing PMI
The RatingDog Manufacturing Purchasing Managers’ Index (PMI), released by Caixin Insight Group and S&P Global, is a leading indicator gauging business activity in China’s manufacturing sector. Since China is the world’s second-largest economy, its macroeconomic data releases can strongly influence financial markets.
Previous values: 49.9, 50.6, 51.2 in September 2025.
A decline in the indicator value and reading below 50 may negatively affect the renminbi, as well as commodity currencies such as the New Zealand and Australian dollar. Data that exceeds forecasted or previous values will have a positive impact on these currencies.
Thursday, January 1
Banks and markets will be closed. All major stock exchanges worldwide will be suspended. The world will be celebrating the New Year.
Friday, January 2
There are no important macroeconomic statistics scheduled to be released.
Price chart of USDX in real time mode
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