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January 23, 2026
Preview: Due February 6 - Canada January Employment - A second straight subdued month after three strong ones
January 23, 2026 7:13 PM UTC
We expect Canadian employment to increase by 15k in January, a second straight moderate increase following December’s 8.2k that followed three straight strong gains averaging close to 60k. We expect unemployment to remain at December’s rate of 6.8%, but to fall before rounding.
Preview: Due January 26 - U.S. November Durable Goods Orders - Aircraft to lead, but ex transport trend positive
January 23, 2026 3:17 PM UTC
We expect November durable goods orders to increase by 4.5%, led by a strong rise in aircraft as implied by Boeing data, though we expect ex transport orders to show a positive trend persisting with a rise of 0.6%.
Canada November retail sales - A stronger month but trend still subdued
January 23, 2026 1:49 PM UTC
Canadian retail sales with a 1.3% November increase are similar to the provisional 1.2% estimate made with October’s report. The gain more than fully erases declines of 0.3% in October and 0.7% in September but trend is still subdued. The preliminary estimate for December is for a decline of 0.5%.
This week's five highlights
January 23, 2026 12:00 PM UTC
Trump on Greenland and the Fed
U.S. Initial Claims remain low in payroll survey week, GDP revised higher on inventories
U.S. Personal Income underperforming Spending, Core PCE Prices maintaining trend
BoJ Kept Rates Unchanged with Inflation Forecast Revised Higher
ECB Steady Signals