Daily Market Ahead: Chinese Markets Remain Closed, Key Data from Europe and the U.S. 

TradingKey – Here are today’s key economic events to watch.

Eurozone Consumer Price Index (January)

At 6:00 PM on February 3, Eurostat will release the Eurozone’s January Consumer Price Index (CPI) data. If inflation fails to return to the European Central Bank’s (ECB) 2% target, it could prompt the ECB to continue its accommodative monetary policy in March to support the struggling European economy. Last month, the Eurozone’s CPI rose 2.4% year-over-year, slightly above November’s 2.2% and in line with market expectations. This marks the third consecutive month above 2%, driven primarily by rising energy and persistently high service costs.

U.S. ISM Manufacturing Index (January)

At 11:00 PM on February 3, the Institute for Supply Management (ISM) will release the January ISM Manufacturing Index for the U.S. In December, the index came in at 49.3, slightly above the forecast of 48.2 but still below the 50 threshold, indicating contraction in manufacturing activity. Since 2022, the ISM Manufacturing Index has only exceeded 50 once, with all other months showing contraction. However, with Trump’s return to office, manufacturing activity may see improvement this year.

FOMC Member Bostic Speech

At 1:30 AM on February 4, Federal Open Market Committee (FOMC) member Raphael W. Bostic will deliver a public speech.

U.S. Total Vehicle Sales (January)

At 4:30 AM on February 4, Autodata Corporation will release January’s Total Vehicle Sales data, which is expected to show continued growth. In December, total vehicle sales reached 16.8 million units, surpassing the forecast of 16.5 million and marking the highest level since May 2021.

Chinese Financial Markets Remain Closed

As the Lunar New Year holiday continues, Chinese financial markets remain closed.