Next week (January 17-23), global markets will be in a period of intense data releases and events. China's economic performance, US core inflation data, Federal Reserve policy signals, and the Davos Forum will all converge, creating a multitude of events that could potentially reshape the market landscape, from macroeconomic data from various countries to dialogues at top global summits, from central bank policy moves to energy market reports.

Investors need to focus on core variables and accurately grasp potential risks and opportunities.

The Federal Reserve's opening statement and guidance on forex positions

On Saturday (January 17), Federal Reserve Governor Bowman and Vice Chairman Jefferson will deliver speeches on the economic outlook and monetary policy, respectively, with the market looking for clues about the Fed's future interest rate path. Meanwhile, the CFTC (Commodity Futures Trading Commission) will release its weekly Commitment of Traders report, providing forex traders with insights into fund flows.

Chinese economic data kicks off the Davos Summit

On Monday (January 19), China will release a series of data, including the year-on-year growth rate of total retail sales of consumer goods in December, the GDP growth rate in the fourth quarter, and the value-added of enterprises above designated size in December, which will provide a direct reflection of the state of China's economy.

The Eurozone and Canada will release their December CPI data simultaneously. Both countries maintained their interest rates at 2.15% and 2.25% respectively in December. The inflation data will affect their policy adjustment space.

On that day, the 56th World Economic Forum Annual Meeting (Winter Davos) will open and continue until January 23. Trump will lead the "largest US delegation in history" to participate in the event. At the same time, the People's Bank of China will lower the rediscount rate by 0.25 percentage points and Chinese securities firms will officially implement policies to increase the collateral ratio for securities lending.

China's LPR (Loan Prime Rate) leads the way, followed by European economic data.

On Tuesday (January 20), the People's Bank of China will announce the 1-year and 5-year Loan Prime Rates (LPRs), which are closely watched as a key indicator of the financing costs for the real economy.

Germany will release its PPI data, the UK will release its unemployment rate, and the Eurozone and Germany will release their January ZEW economic sentiment indices. The Eurozone will also release its November current account balance.

South Africa announced its gold production figures that day, which may have a short-term impact on the precious metals market.

The crude oil report opens with a focus on US housing data and the Davos speech.

On Wednesday (January 21), the U.S. API will release its monthly crude oil market report, providing a reference for the supply and demand pattern of the energy market.

The UK will release its CPI and retail price index, while the US will release its December housing starts, pending home sales index, and December Conference Board confidence index, reflecting the state of the US housing market and consumer confidence.

On that day, US President Trump will deliver a speech at the World Economic Forum Annual Meeting on "How We Can Cooperate in an Increasingly Competitive World," conveying the US position on global economic cooperation and possibly justifying several recent actions.

US-EU data game, policy minutes send signals

On Thursday (January 22), the API will release crude oil inventory data, and Japan will disclose its import and export trade balance.

The United States will release a series of important data, including the final reading of third-quarter GDP, initial and continuing jobless claims this week, and the November core PCE price index—a key reference indicator for the Federal Reserve's interest rate decision.

The European Central Bank will release the minutes of its December monetary policy meeting, helping the market understand the logic behind its decision to keep interest rates unchanged.

PMI data release concludes, global confidence indicators move in tandem.

On Friday (January 23), the United States will release its EIA crude oil inventory changes, and Japan will release its CPI data.

Subsequently, the January services PMIs of various European and American countries will be released one after another, covering the United States, the United Kingdom, the Eurozone, Germany, and France, reflecting the prosperity of the services sector.

The U.S. will also release the University of Michigan Consumer Sentiment Index for January, which can be compared with the Conference Board's Consumer Sentiment Index on Wednesday to comprehensively assess the trend of U.S. consumer confidence.

Risk warning: Key variables require close monitoring.

In addition to core economic data, investors should also pay attention to three potential risks: First, the continued contraction of global peace and security cooperation and the escalation of regional conflicts may trigger risk aversion, which would benefit assets such as gold and the US dollar; second, if speeches and policy documents from officials of the Federal Reserve and the European Central Bank release signals of a shift, they may quickly correct market expectations and cause volatility in the currency and bond markets; third, the hesitant trend at high levels in global equity markets, if it triggers a consolidation, may radiate to investment products such as precious metals; and fourth, Trump's geopolitical dialogues and policy statements during the Davos Forum may cause fluctuations in market risk appetite.