The Week Ahead – Week Commencing 12 January 2026

The first trading week of the new year has come and gone, and it is very much a case of so far, so good for investors. Risk sentiment has remained resilient, with global equity markets continuing to trade near record levels despite elevated geopolitical tensions and the first major US data release of the year.

US employment data on Friday came in relatively close to market expectations, locking in a hold from the Fed this month but also encouraging market pricing of more rate cuts later in the year.

It looks like being another busy week ahead, with geopolitical tensions likely to remain high across the globe, more key US data due out, and the first earnings reports of 2026 scheduled.

Here is our usual day-by-day breakdown of the major risk events this week:

It is a quiet start on the economic calendar on Monday, with very little scheduled across all three trading sessions. Japanese markets are closed for a bank holiday, which may affect liquidity early in the day; however, most traders are expecting updates on geopolitical events to drive any fresh moves.

There is little scheduled again in the first two trading sessions on Tuesday; however, things should get interesting once New York enters the fray, with the main event of the week, the US CPI data release, scheduled shortly after the open. US New Home Sales numbers are also set to be released; however, expect the inflation numbers to dominate.

It’s a very similar setup on Wednesday for investors, with little scheduled in the Asian and London sessions but more key data in the US. This time, it is US PPI numbers scheduled alongside the latest Retail Sales numbers. We also hear from Fed members Miran, Kashkari, and Williams during the day.

There is little again of note on the calendar in the Asian session; however, there will be a strong focus on UK markets once Europe opens, with the key UK GDP data due for release. There is more US data scheduled shortly after the US open, with Weekly Unemployment Claims, the Empire State Manufacturing Index, and the Philly Fed Manufacturing Index numbers all due out at the same time. Fed members Barkin and Bostic are also scheduled to speak.

It is a quiet Friday to close out the trading week, with little scheduled across all three trading sessions again; however, traders will continue to monitor newswires for fresh geopolitical updates for any changes in sentiment.

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