Japan’s economic calendar for Tuesday, 16 January 2024, indicates a light schedule, with a focus on the expected fall in Japan’s wholesale inflation. The upcoming release of Japan’s December Producer Price Index (PPI) is anticipated to show a decline from November’s figures. This trend aligns with the Bank of Japan’s cautious stance, as recent data has not been conducive to tightening monetary policy.
The economic data calendar from ForexLive provides a snapshot of the scheduled events. The times listed are in GMT, while the numbers in the right-most column represent the ‘prior’ results from the previous month or quarter. Additionally, the consensus median expected figures are displayed in the adjacent column.
In other news, gold trading in January is poised for a potential rebound, as indicated by market trends. Goldman Sachs has issued a warning regarding the potential impact of an extended disruption in the Strait of Hormuz, suggesting a potential doubling of oil prices. Similarly, HSBC projects Brent crude oil to average $82.5 per barrel and gold to average $1,825 in 2024.
Furthermore, the Australian private survey of inflation surged by 1% month-on-month in December, marking the most significant increase in 17 months. On the other hand, Goldman Sachs forecasts a decline in US inflation to below 2% year-on-year by springtime.
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