The first half of the December 15-21 week brings a wave of potentially high-impact economic releases that could impact financial markets. These key releases include the US Nonfarm Payrolls report, UK Employment Change data, and New Zealand's quarterly GDP, among others.
Whether you're trading the Chinese Yuan, British Pound, Euro, or US Dollar, understanding these events and their potential market implications will be essential for navigating what promises to be a data-intensive week.
Mon, Dec 15th, 2025 at 02:00 GMT
Currency: CNY
Released by the National Bureau of Statistics of China, Industrial output shows the volume of production of Chinese Industries such as factories and manufacturing facilities. A surge in output is regarded as inflationary which could prompt the People’s Bank of China to tighten monetary policy and fiscal policy risk. If high industrial production growth comes out, this could generate a positive sentiment (or bullish) for the CNY, whereas a low reading could be seen as negative (or Bearish) for the CNY.
Mon, Dec 15th, 2025 at 02:00 GMT
Currency: CNY
Released monthly by the National Bureau of Statistics of China, the Retail Sales data measures the value of goods sold by retailers in China. Changes in Retail Sales are widely followed as an indicator of consumer spending. Percent changes reflect the rate of changes in such sales, with the YoY reading comparing sales values in the reference month with the same month a year earlier. A high reading could be seen as bullish for the Renminbi (CNY), while a low reading could be seen as bearish.
Mon, Dec 15th, 2025 at 13:30 GMT
Currency: CAD
Released monthly by the Bank of Canada (BoC), the BoC Consumer Price Index Core represents changes in prices for Canadian consumers by comparing the cost of a fixed basket of goods and services. It is considered a measure of underlying inflation as it excludes eight of the most-volatile components: fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation and tobacco products. 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 Canadian Dollar (CAD), while a low reading could be seen as bearish.
Mon, Dec 15th, 2025 at 13:30 GMT
Currency: CAD
Released monthly by Statistics Canada, the Consumer Price Index (CPI) represents changes in prices for Canadian consumers by comparing the cost of a fixed basket of goods and services. 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 Canadian Dollar (CAD), while a low reading could be seen as bearish.
Tue, Dec 16th, 2025 at 07:00 GMT
Currency: GBP
Released by the UK Office for National Statistics, the Claimant Count Change presents the change in the number of unemployed people in the UK claiming benefits. There is a tendency for the metric to influence GBP volatility. A rise in the indicator could have negative implications for consumer spending and economic growth. A high reading could be seen as bearish for the Pound Sterling (GBP), while a low reading could be seen as bullish.
Tue, Dec 16th, 2025 at 07:00 GMT
Currency: GBP
Released by the UK Office for National Statistics, Employment Change represents the change in the number of people who were employed in the UK in the three months to the release period. A healthy and consistent increase of this figure could be seen as bullish for the Pound Sterling (GBP), while a decrease could be seen as bearish.
Tue, Dec 16th, 2025 at 07:00 GMT
Currency: GBP
The ILO Unemployment Rate released by the UK Office for National Statistics is the number of unemployed workers divided by the total civilian labour force. It is a leading indicator for the UK Economy. If the rate goes up, it could indicate a lack of expansion within the UK labour market. As a result, a rise may lead to a weakening of the UK economy. A decrease of the figure could be seen as bullish for the Pound Sterling (GBP), while an increase could be seen as bearish.
Tue, Dec 16th, 2025 at 08:30 GMT
Currency: EUR
Released monthly by S&P Global and Hamburg Commercial Bank (HCOB), the Composite Purchasing Managers Index (PMI) is a leading indicator of private sector activity in Germany across both manufacturing and services. Based on surveys of senior executives weighted by company size and sectoral contribution. It captures monthly changes in output, helping to anticipate shifts in GDP, industrial production, employment and inflation. The index ranges from 0 to 100, with 50.0 indicating no change from the previous month. A reading above 50 could indicate that the German private economy is expanding, which could be a bullish sign for the Euro (EUR). Meanwhile, a reading below 50 could signal that activity is declining, which could be seen as bearish for EUR.
Tue, Dec 16th, 2025 at 08:30 GMT
Currency: EUR
Released monthly by S&P Global and Hamburg Commercial Bank (HCOB), the Manufacturing Purchasing Managers Index (PMI) is a leading indicator of business activity in Germany’s manufacturing sector. Based on surveys of senior executives at private-sector firms, it tracks monthly changes in conditions and can signal emerging trends in GDP, industrial production, employment and inflation. As Europe’s main manufacturing hub, Germany’s PMI often serves as a bellwether for the sector’s health across the wider region. The index ranges from 0 to 100, with a reading of 50.0 indicating no change from the previous month. A reading above 50 could indicate that the manufacturing economy is expanding, which could be a bullish sign for the Euro (EUR). Meanwhile, a reading below 50 could signal that activity among goods producers is declining, which could be seen as bearish for EUR.
Tue, Dec 16th, 2025 at 08:30 GMT
Currency: EUR
The Services Purchasing Managers Index (PMI), released monthly by S&P Global and Hamburg Commercial Bank (HCOB), is a leading indicator of business activity in Germany’s services sector. Based on surveys of senior executives at private-sector services companies, it tracks monthly changes in conditions and can signal emerging trends in GDP, employment and inflation. The index ranges from 0 to 100, with a reading of 50.0 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 Euro (EUR). Meanwhile, a reading below 50 could signal that activity among service providers is declining, which could be seen as bearish for EUR.
Tue, Dec 16th, 2025 at 09:00 GMT
Currency: EUR
Released monthly by S&P Global and Hamburg Commercial Bank (HCOB), the Composite Purchasing Managers’ Index (PMI) is a key indicator of private-sector activity in the Eurozone, covering both manufacturing and services. It is based on surveys of senior executives, with responses weighted by each firm’s size and its share of sector output. The index reflects month-to-month changes in business conditions and can signal turning points in GDP, industrial production, employment and inflation. It ranges from 0 to 100, with a reading of 50.0 indicating no change from the previous month. A reading above 50 could indicate that the private economy is expanding, which could be a bullish sign for the Euro (EUR). Meanwhile, a reading below 50 could signal that activity is declining, which could be seen as bearish for EUR.
Tue, Dec 16th, 2025 at 09:00 GMT
Currency: EUR
Released monthly by S&P Global and Hamburg Commercial Bank (HCOB), the Manufacturing Purchasing Managers Index (PMI) is a leading indicator gauging business activity in the Eurozone manufacturing sector. The data is derived from surveys of senior executives at private-sector companies from the manufacturing sector. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production, employment and inflation. The index varies between 0 and 100, with levels of 50.0 signalling no change over the previous month. A reading above 50 could indicate that the manufacturing economy is expanding, which could be a bullish sign for the Euro (EUR). Meanwhile, a reading below 50 could signal that activity among goods producers is declining, which could be seen as bearish for EUR.
Tue, Dec 16th, 2025 at 09:00 GMT
Currency: EUR
The Services Purchasing Managers’ Index (PMI), released monthly by S&P Global and Hamburg Commercial Bank (HCOB), is a key indicator of business activity in the Eurozone’s services sector. Given the sector’s substantial contribution to the economy, the Services PMI serves as an important gauge of overall economic conditions. The index is based on surveys of senior executives at private-sector services companies, with responses indicating month-to-month changes in activity. As a forward-looking measure, it can anticipate shifts in official data such as Gross Domestic Product (GDP), employment and inflation. The index ranges from 0 to 100, with a reading of 50.0 signalling 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 Euro (EUR). Meanwhile, a reading below 50 could signal that activity among services providers is declining, which could be seen as bearish for EUR.
Tue, Dec 16th, 2025 at 09:30 GMT
Currency: GBP
Released monthly by S&P Global, the Composite Purchasing Managers’ Index (PMI) is a leading indicator measuring private-sector business activity in the UK across both the manufacturing and services sectors. The index is based on surveys of senior executives, with each response weighted according to the size of the company and its contribution to overall sector output. Survey responses indicate whether activity has increased, decreased, or remained unchanged compared with the previous month, allowing the PMI to anticipate shifts in official data such as Gross Domestic Product (GDP), industrial production, employment and inflation. The index ranges from 0 to 100, with a reading of 50.0 signalling no change from the previous month. A reading above 50 could indicate that the UK private economy generally expanding, which could be a bullish sign for the Pound Sterling (GBP). Meanwhile, a reading below 50 could signal that activity is declining, which could be seen as bearish for GBP.
Tue, Dec 16th, 2025 at 09:30 GMT
Currency: GBP
Released monthly by S&P Global, the Manufacturing Purchasing Managers’ Index (PMI) is a key indicator of business conditions in the UK’s manufacturing sector. It is based on surveys of senior executives at private-sector firms, with responses indicating whether activity has risen, fallen or remained unchanged compared with the previous month. As such, the PMI can signal turning points ahead of official data on Gross Domestic Product (GDP), industrial production, employment and inflation. The index ranges from 0 to 100, with a reading of 50.0 indicating no change from the previous month. A reading above 50 could indicate that the manufacturing economy is expanding, which could be a bullish sign for the Pound Sterling (GBP). Meanwhile, a reading below 50 could signal that activity among goods producers is declining, which could be seen as bearish for GBP.
Tue, Dec 16th, 2025 at 09:30 GMT
Currency: GBP
The Services Purchasing Managers Index (PMI), released monthly by S&P Global, is a leading indicator gauging business activity in the UK’s services sector. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), employment and inflation. The index varies between 0 and 100, with levels of 50.0 signalling no change over the previous month. A reading above 50 could indicate that the services economy is expanding, which could be a bullish sign for the Pound Sterling (GBP). Meanwhile, a reading below 50 could signal that activity among service providers is declining, which could be seen as bearish for GBP.
Tue, Dec 16th, 2025 at 13:30 GMT
Currency: USD
The Average Hourly Earnings metric, released by the US Bureau of Labor Statistics, is a significant indicator of labour cost inflation and of the tightness of labour markets. The Federal Reserve Board pays close attention to it when setting interest rates. A high reading could be bullish for the US Dollar (USD), while a low reading could be bearish.
Tue, Dec 16th, 2025 at 13:30 GMT
Currency: USD
The Average Hourly Earnings gauge, released by the US Bureau of Labour Statistics, is a significant indicator of labour cost inflation and of the tightness of labour markets. The Federal Reserve Board pays close attention to it when setting interest rates. A high reading could be seen as bullish for the US Dollar (USD), while a low reading could be seen as bearish.
Tue, Dec 16th, 2025 at 13:30 GMT
Currency: USD
Released by the US Bureau of Labor Statistics (BLS), the Nonfarm Payrolls release presents the number of new jobs created in the US during the previous month in all non-agricultural businesses. The monthly changes in payrolls can be extremely volatile. The number is also subject to strong reviews, which can also trigger volatility in the Forex board. A high reading could be seen as bullish for the US Dollar (USD), while a low reading could be seen as bearish, although previous months' reviews and the Unemployment Rate are as relevant as the headline figure. Therefore, the market's reaction depends on how the market assesses all the data contained in the BLS report as a whole.
Tue, Dec 16th, 2025 at 13:30 GMT
Currency: USD
Released monthly by the US Census Bureau, the Retail Sales data measures the value in total receipts of retail and food stores in the United States. Monthly percent changes reflect the rate of changes in such sales. A stratified random sampling method is used to select approximately 4,800 retail and food services firms whose sales are then weighted and benchmarked to represent the complete universe of over three million retail and food services firms across the country. The data is adjusted for seasonal variations as well as holiday and trading-day differences, but not for price changes. Retail Sales data is widely followed as an indicator of consumer spending, which is a major driver of the US economy. A high reading could be seen as bullish for the US Dollar (USD), while a low reading could be seen as bearish.
Tue, Dec 16th, 2025 at 13:30 GMT
Currency: USD
Released monthly by the US Census Bureau, the so-called Retail Sales Control Group data measures the value in total receipts of retail and food stores in the United States excluding receipts from auto dealers, building-materials retailers, gas stations, office supply stores, mobile home dealers and tobacco stores. The data is adjusted for seasonal variations as well as holiday and trading-day differences, but not for price changes. Retail sales data is widely followed as an indicator of consumer spending, which is a major driver of the US economy. The "control group" is a more precise measure of gauging consumer spending. A high reading could be seen as bullish for the US Dollar (USD), while a low reading could be seen as bearish.
Tue, Dec 16th, 2025 at 14:45 GMT
Currency: USD
The S&P Global Manufacturing Purchasing Managers Index (PMI), released monthly, is a leading indicator gauging business activity in the US manufacturing sector. The data is derived from surveys of senior executives at private-sector companies from the manufacturing sector. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (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 US Dollar (USD). Meanwhile, a reading below 50 could signal that activity in the manufacturing sector is declining, which could be seen as bearish for USD.
Tue, Dec 16th, 2025 at 14:45 GMT
Currency: USD
Released monthly, the S&P Global Services Purchasing Managers’ Index (PMI) is a key indicator of business activity in the US services sector. Given that services account for a significant share of the US economy, the Services PMI is a vital gauge of overall economic conditions. The index is based on surveys of senior executives at private-sector services companies, with responses indicating whether activity has risen, fallen or remained unchanged compared with the previous month. As a leading indicator, it can signal turning points ahead of official data such as Gross Domestic Product (GDP), industrial production, employment and inflation. A reading above 50 could indicate that the services economy is expanding, which could be a bullish sign for the US Dollar (USD). Meanwhile, a reading below 50 could signal that activity among service providers is declining, which could be seen as bearish for USD.
Tue, Dec 16th, 2025 at 17:45 GMT
Currency: CAD
Tiff Macklem, Governor of the Bank of Canada since June 2020, drives monetary policy and is a key influence on the Canadian dollar and interest rates. Markets focus on his data-driven, cautious communications on inflation, the labour market, housing, and financial stability, as any shift in tone or guidance can move CAD and short-term rates.
Wed, Dec 17th, 2025 at 07:00 GMT
Currency: GBP
Released monthly by the Office for National Statistics, the United Kingdom (UK) Consumer Price Index (CPI) is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is also the inflation measure used in the government’s target. The MoM figure compares the prices of goods in the reference month to the previous month. A high reading could be seen as bullish for the Pound Sterling (GBP), while a low reading could be seen as bearish.
Wed, Dec 17th, 2025 at 07:00 GMT
Currency: GBP
The United Kingdom (UK) Consumer Price Index (CPI), released monthly by the Office for National Statistics is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is the inflation measure used in the government’s target. The YoY reading compares prices in the reference month to a year earlier. A high reading could be seen as bullish for the Pound Sterling (GBP), while a low reading could be seen as bearish.
Wed, Dec 17th, 2025 at 07:00 GMT
Currency: GBP
The United Kingdom (UK) Core Consumer Price Index (CPI), released monthly by the Office for National Statistics, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. The YoY reading compares prices in the reference month to a year earlier. Core CPI excludes the volatile components of food, energy, alcohol and tobacco. The Core CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading could be seen as bullish for the Pound Sterling (GBP), while a low reading could be seen as bearish.
Wed, Dec 17th, 2025 at 21:45 GMT
Currency: NZD
Released quarterly by Statistics New Zealand on a basis, the Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced in New Zealand during a given period. The GDP is considered as the main measure of New Zealand’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 New Zealand Dollar (NZD), while a low reading could be seen as bearish.
Wed, Dec 17th, 2025 at 21:45 GMT
Currency: NZD
Released quarterly by Statistics New Zealand, The Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced in New Zealand during a given period. The GDP is considered as the main measure of New Zealand economic activity. 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 New Zealand Dollar (NZD), 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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