The trade dispute between the US and key trading partners, which was recently ignited by Donald Trump, is likely to continue to drive investors in the coming days.
Following the publication of the US labor market report last Friday, the focus in the new trading week should be on fresh inflation data for the United States in particular. The current reporting season could also continue to provide important impetus.
Dow Jones Industrial Average Index![]()
Source: TradingView
Trade dispute between the USA and other trading partners could cause further uncertainty
Concerns about an escalation of trade disputes between the US and other economies are likely to keep investors' appetite for risk manageable. On Friday, the US President announced tariffs against countries that impose higher tariffs on US exports than the US imposes on corresponding exports to the respective countries. However, it remained unclear which countries would be affected. "I will be announcing reciprocal trade next week so that we will be treated equally with other countries," Trump said. "We want nothing more, nothing less."
Job creation on the US labor market in January significantly lower than expected
The results of the official labor market report from last Friday afternoon could continue to occupy investors at the start of the new trading week. A total of 143,000 new non-farm jobs were created in the US, which is significantly less than expected (170,000). However, the job growth from the two previous months was revised upwards by a total of 100,000 units, which sends contradictory signals. The separately calculated unemployment rate also fell by 0.1 percentage points to 4.0%.
Economists expect no change in US inflation - monetary policy hints from Powell conceivable
The publication of US inflation data in particular is on the agenda in the middle of the week. Economists are expecting an inflation rate of 2.9% (compared to the same month last year), following 2.9% in December. Compared to the previous month, however, an increase of 0.1 percentage points to 0.4% is expected.
In addition to Fed Chairman Jerome Powell (16:00), Fed representatives Raphael Bostic (18:00) from the Atlanta branch of the Fed and Christopher Waller (23:05) could send monetary policy hints.
Further US price data on Thursday - reporting season as a potential driver
As on Wednesday, important US price data is likely to attract interest on Thursday. At 14:30, the focus will shift to so-called producer prices, which could send important inflation signals.
Retail sales for the United States at 14:30 on Friday round off a generally manageable trading week from the point of view of the economic calendar.
In the reporting season, things could get interesting on Tuesday with the figures from Coca-Cola, for example. The figures for the US crypto exchange Coinbase are on the agenda for Thursday.
Coca-Cola
Source: TradingView
Coinbase
Source TradingView
