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The week of 1–7 December delivers an extraordinarily dense schedule of critical economic data spanning all six trading days. Core Harmonised Index of Consumer Prices releases, quarterly GDP figures, and employment reports converge to create one of the year's most concentrated economic calendars.
Notable releases include European Retail Sales data, Australian Gross Domestic Product, and Canadian Unemployment Rate figures.
These announcements encompass multiple currencies—AUD, USD, EUR, CNY, and JPY—whilst addressing the fundamental themes of growth, inflation, and employment. Traders will scrutinise these releases for fresh insights as the year approaches its conclusion.
Monday, December 1st , 2025
BoJ Governor Ueda speech
Mon, Dec 1st, 2025 at 01:05 GMT
Currency: JPY
Before being appointed, Kazuo Ueda, Governor of the Bank of Japan, was an economics professor at the University of Tokyo and held a PhD from the Massachusetts Institute of Technology. BoJ Governor Ueda’s speech is key because markets can be sensitive to any signal on Japan’s policy-normalisation path. Shifts in tone on inflation or wages may move JPY as traders reprice rate expectations. Comments touching on FX volatility may also spark intervention speculation.
RatingDog Manufacturing PMI (Nov)
Mon, Dec 1st, 2025 at 01:45 GMT
Currency: CNY
The RatingDog Manufacturing PMI, published monthly by Caixin Insight Group and S&P Global, is a key indicator of China’s manufacturing activity. Based on surveys of senior executives in private and state-owned firms, it measures monthly changes in business conditions and helps anticipate trends in GDP, industrial production, employment and inflation. A reading above 50 could indicate that the manufacturing economy is expanding, which could be a bullish sign for the Renminbi (CNY). Meanwhile, a reading below 50 could signal that activity among goods producers is declining, which could be seen as bearish for CNY.
ISM Manufacturing PMI (Nov)
Mon, Dec 1st, 2025 at 15:00 GMT
Currency: USD
The Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI), released monthly, is a leading indicator gauging business activity in the US manufacturing sector. The indicator is obtained from a survey of manufacturing supply executives based on information they have collected within their respective organizations. Survey responses reflect the change, if any, in the current month compared to the previous month. A reading above 50 could indicate that the manufacturing economy is expanding, which could be a bullish sign for the US Dollar (USD). A reading below 50 could signals that factory activity is declining, which could be seen as bearish for USD.
Tuesday, December 2nd 2025
Core Harmonised Index of Consumer Prices (MoM) and (YoY) (Nov)
Tue, Dec 2nd, 2025 at 10:00 GMT
Currency: EUR
The Core Harmonised Index of Consumer Prices (HICP) measures change in the prices of a representative basket of goods and services in the European Monetary Union. The HICP, released monthly by Eurostat, is harmonised because the same methodology is used across all member states and their contribution is weighted while the YoY reading compares prices in the reference month to a year earlier. Core HICP excludes volatile components like food, energy, alcohol, and tobacco. The Core HICP is a key indicator to measure inflation and changes in purchasing trends. A high reading could be seen as bullish for the Euro (EUR), while a low reading could be seen as bearish.
Wednesday, December 3rd 2025
Gross Domestic Product (QoQ) (Q3)
Wed, Dec 3rd, 2025 at 00:30 GMT
Currency: AUD
The Gross Domestic Product (GDP), released quarterly by the Australian Bureau of Statistics, is a measure of the total value of all goods and services produced in Australia during a given period. The GDP is considered as the main measure of Australian economic activity. The QoQ reading compares economic activity in the reference quarter to the previous quarter. A rise in this indicator could be bullish for the Australian Dollar (AUD), while a low reading could be seen as bearish.
RatingDog Services PMI (Nov)
Wed, Dec 3rd, 2025 at 01:45 GMT
Currency: CNY
The RatingDog Services PMI, published monthly by Caixin Insight Group and S&P Global, is a key indicator of business activity in China’s services sector. Based on surveys of senior executives at private and state-owned firms, it measures monthly changes in operating conditions and can signal upcoming shifts in GDP, industrial production, employment and inflation. The index ranges from 0 to 100, with a reading of 50 indicating no change from the previous month. A reading above 50 could indicate that the services economy is expanding, which could be a bullish sign for the Renminbi (CNY). Meanwhile, a reading below 50 could signal that activity among service providers is declining, which could be seen as bearish for CNY.
Consumer Price Index (YoY) (Nov)
Wed, Dec 3rd, 2025 at 07:30 GMT
Currency: CHF
The Consumer Price Index (CPI), released monthly by the Swiss Federal Statistical Office, measures the change in prices of goods and services which are representative of the private households’ consumption in Switzerland. The CPI is the main indicator to measure inflation and changes in purchasing trends. The YoY reading compares prices in the reference month to the same month a year earlier. A high reading could be seen as bullish for the Swiss Franc (CHF), while a low reading could be seen as bearish.
ADP Employment Change (Nov)
Wed, Dec 3rd, 2025 at 13:15 GMT
Currency: USD
The ADP Employment Change is a gauge of employment in the private sector released by the largest payroll processor in the US, Automatic Data Processing Inc. It measures the change in the number of people privately employed in the US. A rise in the indicator could have positive implications for consumer spending and may be stimulative of economic growth. A high reading could be seen as bullish for the US Dollar (USD), while a low reading could be seen as bearish.
ISM Services PMI (Nov)
Wed, Dec 3rd, 2025 at 15:00 GMT
Currency: USD
The Institute for Supply Management (ISM) Services Purchasing Managers Index (PMI), released monthly, is a leading indicator gauging business activity in the US services sector, which makes up most of the economy. The indicator is obtained from a survey of supply executives across the US based on information they have collected within their respective organisations. Survey responses reflect the change, if any, in the current month compared to the previous month. A reading above 50 could indicate that the services economy is expanding, which could be a bullish sign for the US Dollar (USD). While a reading below 50 could signal that services sector activity is declining, which could be seen as bearish for USD.
Thursday, December 4th 2025
Trade Balance (MoM) (Oct)
Thu, Dec 4th, 2025 at 00:30 GMT
Currency: AUD
The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that could turn into a growth in the trade balance, and that could be positive for the AUD.
Retail Sales (YoY) (Oct)
Thu, Dec 4th, 2025 at 10:00 GMT
Currency: EUR
Released monthly Eurostat, the Retail Sales data, measures the volume of retail sales in the Eurozone. It shows the performance of the retail sector in the short term, which accounts for around 5% of the total value added of the Eurozone economies. Retail Sales data is widely followed as an indicator of consumer spending. Percent changes reflect the rate of changes in such sales, with the YoY reading comparing sales volumes in the reference month with the same month a year earlier. A high reading could be seen as bullish for the Euro (EUR), while a low reading could be seen as bearish.
Friday, December 5th 2025
Gross Domestic Product s.a. (QoQ) and (YoY) (Q3)
Fri, Dec 5th, 2025 at 10:00 GMT
Currency: EUR
Released quarterly by the Eurostat, the Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced in the Eurozone during a certain period. The GDP and its main aggregates are among the most significant indicators of the state of any economy. The QoQ reading compares economic activity in the reference quarter to the previous quarter while the YoY reading compares economic activity in the reference quarter compared with the same quarter a year earlier. A rise in this indicator could be bullish for the Euro (EUR), while a low reading could be seen as bearish.
Net Change in Employment (Nov)
Fri, Dec 5th, 2025 at 13:30 GMT
Currency: CAD
Released by Statistics Canada, the Net Change in Employment is a measure of the change in the number of people in employment in Canada. A rise in this indicator could have positive implications for consumer spending and may indicate economic growth. Therefore, a high reading could be seen as bullish for the Canadian Dollar (CAD), while a low reading could be seen as bearish.
Unemployment Rate (Nov)
Fri, Dec 5th, 2025 at 13:30 GMT
Currency: CAD
Released by Statistics Canada, the Unemployment Rate is the number of unemployed workers divided by the total civilian labour force as a percentage. It is a leading indicator for the Canadian Economy. If the rate is up, it could indicate a lack of expansion within the Canadian labour market and a weakening of the Canadian economy. A decrease of the figure could be seen as bullish for the Canadian Dollar (CAD), while an increase could be seen as bearish.
Core Personal Consumption Expenditures - Price Index (MoM) and (YoY) (Sep)
Fri, Dec 5th, 2025 at 13:30 GMT
Currency: USD
Released monthly by the US Bureau of Economic Analysis, the Core Personal Consumption Expenditures (PCE) measures the changes in the prices of goods and services purchased by consumers in the United States (US). The PCE Price Index is also the Federal Reserve’s (Fed) preferred gauge of inflation. The MoM figure compares the prices of goods in the reference month to the previous month while the YoY reading compares the prices of goods in the reference month to the same month a year earlier. The core reading excludes the so-called more volatile food and energy components to give a more accurate measurement of price pressures. A high reading could be bullish for the US Dollar (USD), while a low reading could be bearish.
Michigan Consumer Sentiment Index (Dec)
Fri, Dec 5th, 2025 at 15:00 GMT
Currency: USD
Released monthly by the University of Michigan, the Michigan Consumer Sentiment Index is a survey gauging sentiment among consumers in the United States. The questions cover three broad areas: personal finances, business conditions and buying conditions. The data shows a picture of whether consumers are willing to spend money, a key factor as consumer spending is a major driver of the US economy. The University of Michigan survey has proven to be an accurate indicator of the future course of the US economy. The survey publishes a preliminary, mid-month reading and a final print at the end of the month. A high reading could be bullish for the US Dollar (USD), while a low reading could be bearish.
Sunday, December 7th 2025
Gross Domestic Product (QoQ) (Q3)
Mon, Dec 8th, 2025 at 23:50 GMT
Currency: JPY
Released quarterly by Japan’s Cabinet Office, the Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced in Japan during a given period. The GDP is considered as the main measure of Japan’s economic activity. The QoQ reading compares economic activity in the reference quarter to the previous quarter. A high reading could be seen as bullish for the Japanese Yen (JPY), while a low reading could be seen as bearish.
Staying on top of these key events and understanding their potential impact can help you anticipate market volatility and make more confident trading decisions.
For a full list of what’s ahead, check out our market calendar and stay prepared for the week’s opportunities.
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