Daily Market Ahead: As Chinese New Year Ends, Are Markets Poised for Action?

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

New Zealand Building Permits Monthly Rate (December)

On the morning of February 4, Statistics New Zealand will release the December building permits data. In November, the monthly rate rose by 5.3%, the highest since August 2024, indicating a gradual recovery in the number of approved construction projects. However, the growth in building permits remains modest and insufficient to provide significant support for the New Zealand dollar.

U.S. Factory Orders Monthly Rate (December)

At 11:00 PM on February 4, the U.S. Department of Commerce will release December factory orders data. Markets expect the downward trend from the past four months to continue. In November, factory orders fell by 0.4% to $586.14 billion, underperforming the market forecast of a 3% monthly decline. Since August 2024, factory orders have consistently contracted and remained below market expectations.

New Zealand Unemployment Rate (Q4)

Around 5:00 AM on February 5, Statistics New Zealand will release Q4 employment data, with markets anticipating continued challenges. In the previous quarter, the unemployment rate reached 4.8%, slightly better than the forecast of 5 but higher than the prior quarter’s 4.6%, marking the highest level since 2021.

Chinese Financial Markets Remain Closed

On the final day of the Lunar New Year holiday, Chinese financial markets will remain closed, with trading activities paused.