Next week's macro outlook: The January US non-farm payroll report and CPI inflation data will be released

According to a TechFlow report on February 7, citing data from Jinshi, traders are bracing for a new week that will bring retail sales figures, the delayed January US non-farm payroll report, and CPI inflation data – all of which will provide crucial information regarding the Federal Reserve’s dual mandate of stabilizing inflation and maximizing employment. Below are the key highlights the market will focus on in the coming week (all in Beijing time):

Central bank developments: Fed 'fog' meets data wave as Wall Street debates gold's future

At 02:30 on Tuesday, Fed Governor Waller will deliver a speech on digital assets;

At 04:15 on Tuesday, Bostic, the 2027 FOMC voting member and Atlanta Fed President, will speak on monetary policy and economic outlook;

At 01:00 on Wednesday, Hamak, the 2026 FOMC voting member and Cleveland Fed President, will give a speech on 'Banking and Economic Outlook';

At 02:00 on Wednesday, Logan, the 2026 FOMC voting member and Dallas Fed President, will deliver remarks;

At 08:00 on Friday, Logan, the 2026 FOMC voter and President of the Dallas Federal Reserve, will deliver a welcome speech at an event, with Fed Governor Milan attending as an invited guest;

Key data: Could the 'double whammy' of Nonfarm Payrolls and CPI trigger a sharp decline in the US dollar?

At 00:00 on Tuesday, the New York Fed's January 1-year inflation expectation;

At 21:30 on Tuesday, the US December retail sales month-over-month, Q4 labor cost index quarter-over-quarter, and December import price index month-over-month;

At 09:30 on Wednesday, China's January CPI year-over-year;

At 21:30 on Wednesday, the US January unemployment rate, seasonally adjusted nonfarm payrolls, average hourly earnings year-over-year/month-over-month, and the final unadjusted benchmark change for 2025 nonfarm employment;

At 15:00 on Thursday, the preliminary UK Q4 GDP year-over-year, December three-month GDP month-over-month, December manufacturing/industrial production month-over-month, and December seasonally adjusted trade balance in goods;

At 18:00 on Friday, the revised Eurozone Q4 GDP year-over-year, final Q4 seasonally adjusted employment change quarter-over-quarter, and December seasonally adjusted trade balance;

At 21:30 on Friday, the US January unadjusted CPI year-over-year, January seasonally adjusted CPI month-over-month, January seasonally adjusted core CPI month-over-month, and January unadjusted core CPI year-over-year;

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