🖐 Macro Watch | Jan 19 – 23, 2026

A holiday-shortened week packed with inflation data, GDP growth updates, and key central bank decisions. With U.S. PCE inflation and Japan’s rate decision on deck, markets will be closely watching signals for early-2026 policy direction.

Here are the most crypto-relevant macro events to watch this week:

🗓 Monday, January 19
🇨🇳 China GDP (YoY - Q4) – 🕕 02:00
  💡 Previous: 4.8%
🇪🇺 Eurozone CPI (YoY - Dec) – 🕕 10:00
  💡 Previous: 2.0%

🗓 Wednesday, January 21
🇬🇧 U.K. CPI (YoY - Dec) – 🕕 07:00
  💡 Previous: 3.2%

🗓 Thursday, January 22
🇺🇸 GDP (QoQ - Q3) – 🕕 13:30
  💡 Previous: 3.8%
🇺🇸 Initial Jobless Claims – 🕕 13:30
🇺🇸 Core PCE Price Index (MoM - Nov) – 🕕 15:00
  💡 Previous: 0.2%
🇺🇸 Core PCE Price Index (YoY - Nov) – 🕕 15:00
  💡 Previous: 2.8%

🗓 Friday, January 23
🇯🇵 BoJ Interest Rate Decision – 🕕 03:00
  💡 Previous: 0.75%
🇺🇸 S&P Global Services PMI (Jan) – 🕕 14:45
  💡 Previous: 52.5
🇺🇸 S&P Global Manufacturing PMI (Jan) – 🕕 14:45
  💡 Previous: 51.8

🤔 Why it matters:
This week centers on inflation credibility and growth momentum. U.S. Core PCE, the Fed’s preferred inflation gauge, will be the key driver for rate expectations, while Japan’s rate decision may influence global yield dynamics. PMI data on Friday offers an early read on economic momentum heading deeper into 2026.

👀 Watch Thursday’s Core PCE and Friday’s BoJ decision, they’re the main volatility catalysts.

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