Publication date: Jan. 30, 2026
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The week ahead: Labor figures US
In Money Care's weekend report, we present the overview of the (macroeconomic) events that could cause movement in stock markets.
Review of last week:
US interest rates remained unchanged at 3.75% as expected. Despite pressure from President Trump to lower interest rates. Equity markets were under the influence of better-than-expected figures from high-tech funds, causing the Nasdaq in particular to perform well. Otherwise, on balance, there were no very big results in the equity indices.
The same cannot be said of the US Dollar and Gold prices. The US Dollar has continued its decline after a rebound in the second half of 2025 in the past week. You now pay about $1.20 for a Euro. The weak US Dollar fits into Donald Trump's picture as a weak US Dollar is positive for international trade from the US. Gold is already up 17% this year from its 2025 closing price.
Coming Week:
On the first Friday of the month, unless this is a trading day, the monthly labor figures are released in the US. Known internationally as the Non-Farm Payrolls (NFP). The development of the NFP is an important guide for the Federal Reserve's interest rate policy in the US. It therefore directly affects the development of the stock and crypto markets and is the most important figure to be published in the coming week.
The labor market in the US has been developing moderately for some time. The January figures should show improvement as a result of the Fed's interest rate cuts. Still, consensus expectations remain at modest levels with an expected increase of 60,000 jobs in January. The unemployment rate is expected to rise to 4.5% and average hourly earnings are expected to remain at 0.3%. This fits squarely into the pattern of recent times in which the U.S. labor market is cooling. If the number of new jobs increased less than the expected 60,000 in January, it is a clear sign that the labor market is not yet picking up steam. This is a trigger for further interest rate cuts that will cause equity markets to rebound.
Furthermore, some attention to the ECB's interest rate decision on Thursday. Given the stable inflation rate of around the desired 2% level in the EU, the strong expectation is that the ECB will leave EU interest rates unchanged at 2% deposit rates.
The stock market agenda week 6
Herewith the most important macroeconomic data for the coming week. The data may cause additional movement in the financial markets.
Monday, February 2, 2026:
Tuesday, Feb. 3, 2026:
No important macroeconomic dates
Wednesday, February 4, 2026:
EU:
United States:
Thursday, Feb. 5, 2026:
EU:
Friday, Feb. 6, 2026:
United States:
Please note that dates and times of these events may change. For the most up-to-date information, it is advisable to consult the official communication channels of the respective organizations and governments.
Disclaimer: Investinginvolves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.