Week Outlook 6-10 January 2025;

However, we observed that volatility increased again, especially on the Turkish side. Last week, inflation figures from Turkey were announced. Consumer price index figures in Turkey were announced as 44.38%, while expectations were around 45.20%. This week, unemployment figures from Turkey will continue to be the main focus of the markets!

On the US front, ISM Manufacturing Purchasing Managers Price Index figures were announced last week. While the expectations were 48.2, it was announced as 49.3! This week, critical data from the USA will be announced! Especially the developments in the employment market continue to be the main focus of the market! In order to expect a continuation of the interest rate cut from the FED, there must be a decrease in inflation, a deterioration in unemployment or a problem in growth so that we can expect the FED to continue the interest rate cut. This week is EMPLOYMENT week... On Tuesday; We will be following JOLTS data on Job Opportunities and Personnel Change Rate. We will be following ADP Non-Farm Employment and Unemployment Benefit Applications data on Wednesday.

On the last trading day of the week, we will be following the critical Non-Farm Employment and Unemployment Rate data. In particular, the possibility of a deterioration in TDI and Unemployment supports the interest rate cut by the FED and we can observe upward movements on the ounce gold side as the Dollar index weakens. Otherwise, a firm stance on unemployment may lead to fewer interest rate cuts in the FED‘s interest rate policy. In this case, sales on the ounce gold side may become harsher.

Warning: The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are offered individually, taking into account people‘s risk and return preferences. The content, comments and recommendations contained herein are of a general nature and are not guiding in any way. These recommendations may not suit your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results that meet your expectations.

DAY	HOUR	FOREIGN CURRENCY	EVENT	EXPECTATION	FORMER
MONDAY	04:45	CNY	Caixin Service Purchasing Managers Index (PMI) (Dec)	51,4	51,5
	12:00	EUR	Service Purchasing Managers Index (PMI) (Dec)	51,4	49,5
	12:30	GBP	Service Purchasing Managers Index (PMI) (Dec)	51,4	50,8
	16:00	EUR	Germany Consumer Price Index (CPI) (Monthly) (Dec)	0,3%	-0,2%
	17:45	USD	Service Purchasing Managers Index (PMI) (Dec)	58,5	56,1
TUESDAY	10:30	CHF	Consumer Price Index (CPI) (Monthly) (Dec)	-0,1%	-0,1%
	13:00	EUR	Core Consumer Price Index (CPI) (Annual) (Dec)	2,7%	2,7%
	13:00	EUR	Consumer Price Index (CPI) (Annual) (Dec)	2,4%	2,2%
	13:00	EUR	Unemployment Rate (Nov)	6,3%	6,3%
	18:00	USD	ISM Non-Manufacturing Purchasing Managers‘ Index (PMI) (Dec.)	53,2	52,1
	18:00	USD	Job Opportunities and Staff Turnover Rate (JOLTS) (Nov)	7,770M	7,744M
WEDNESDAY	13:05	GBP	Speech by BoE Vice Governor Woods	-	-
	16:15	USD	ADP Non-Farm Employment (Interim)	131K	146K
	16:30	USD	Speech by FED Member Waller	-	-
	18:30	USD	Energy Information Administration Crude Oil Stocks	-	-1,178M
	22:00	USD	Federal Open Market Committee (FOMC) Meeting Minutes	-	-
THURSDAY	04:30	CNY	China Consumer Price Index (CPI) (Annual) (Dec)	0,1%	0,2%
	04:30	CNY	China Producer Price Index (PPI) (Annual) (Dec)	-2,5%	-2,5%
	10:00	EUR	Germany Industrial Production (Monthly) (Nov)	0,5%	-1,0%
	16:30	USD	Applications for Unemployment Benefits	210K	211K
	17:00	USD	Speech by FOMC Member Harker	-	-
	21:30	USD	Speech by FOMC Member Bowman	-	-
FRIDAY	10:00	TRY	Unemployment Rate (Monthly) (Nov)	-	8,8%
	16:30	USD	Average Hourly Earnings (Monthly) (Dec)	0,3%	0,4%
	16:30	USD	Non-Farm Employment (Dec.)	154K	227K
	16:30	USD	Unemployment Rate (Dec)	4,2%	4,2%
	18:00	USD	Michigan Consumer Sentiment (Jan)	74,5	74,0