Key Economic Events and Corporate Reports for Wednesday, January 21, 2026: Inflation in the UK and Russia, World Economic Forum in Davos, IEA Oil Report, Financial Results of Major Public Companies. An Analytical Overview for Investors.
On Wednesday, January 21, 2026, investors will focus on several key events in the global economy and corporate sector. The agenda includes fresh inflation data from various countries, speeches by world leaders at the economic forum, an important oil market report, and a series of quarterly results from leading companies. This eventful day has the potential to set the tone for market dynamics, so investors should be particularly attentive to the information that emerges.
World Economic Forum in Davos – Day 3
The Davos Forum is in its third day, bringing together world leaders, ministers, heads of corporations, and financial regulators to discuss global economic trends. Throughout the day at WEF 2026, panel sessions and speeches are expected to shed light on the priorities of the global economy. Investors are watching for signals from Davos: any remarks about the prospects for global growth, international trade, geopolitical risks, or climate agendas can impact market sentiment. Special attention will be given to comments from central bank representatives and international organizations, as they often use this platform to outline their positions on key economic issues. Overall, the events in Davos create a backdrop for financial markets, setting the emotional tone for investors throughout the day.
UK Inflation: December CPI Data
One of the central macroeconomic events of the day will be the UK inflation data for December. The CPI report will be released at 10:00 MSK (07:00 GMT) and will indicate how consumer prices have changed year-on-year. Analysts expect that inflation in the UK may have slightly accelerated, with a rate around 3.3–3.5% YoY compared to 3.2% in November. Despite a notable slowdown from the peak of over 10% a year ago, the current price increase still exceeds the Bank of England's target (2%). An elevated CPI reading may enhance expectations for maintaining a tight monetary policy: investors will assess whether the recent decrease in inflation is sufficient for the Bank of England to alter its approach to interest rates. Data that exceeds forecasts could strengthen the pound and boost yields on UK bonds, while softer inflation might provide markets with hope for a forthcoming easing of policy.
ECB President Christine Lagarde's Speech
At 10:30 MSK, a public speech by Christine Lagarde, president of the European Central Bank, is expected. Lagarde will participate in discussions at the Davos Forum, likely sharing insights on the economic situation in the eurozone and the challenges facing the global economy. Any comments from the ECB president are critically important for investors, as they can provide insights into future monetary policy in the eurozone. As inflation in the region gradually declines to around 3% YoY, markets are awaiting signals from Lagarde regarding the future course of interest rates and measures to support the economy. Furthermore, her panel session touches on European integration and the development of the EU single market, which may imply discussions on structural reforms and trade policy. If her speech includes optimistic assessments or hints at stimulus, it could support the euro and European equities. Conversely, tough comments about the need to control inflation might cool risk appetite. Investors in Europe (indices such as Euro Stoxx 50 and others) should closely monitor Lagarde's rhetoric, as she often sets the tone for the EU market.
South Africa Inflation: December CPI Data
At 11:00 MSK, inflation data from South Africa for December will be released. Consumer inflation in South Africa is expected to remain near recent figures, around 3.5% YoY (unchanged from November). This level sits at the lower end of the South African Reserve Bank's target range (3-6%), reflecting relative price stability in the country. For global investors, South African data alone does not serve as a market-moving factor, but it illustrates trends in emerging markets. A decrease in inflation may provide the SARB with room for easing or keeping rates low, positively impacting the local stock market and economy. Additionally, the data from South Africa is interesting in the broader context, as inflation figures are being released worldwide this week, allowing investors to compare the synchronization of price growth deceleration in developed countries (like the UK) and emerging markets. Attention to inflation in South Africa is also crucial for commodity currency segments and African markets overall.
Oil Market: IEA Monthly Report
At noon (12:00 MSK), the International Energy Agency (IEA) will release its monthly report on the state of the global oil market. This report traditionally contains updated estimates of global oil demand and supply, production data from OPEC and other countries, as well as an analysis of key trends (e.g., inventory levels and fuel consumption forecasts). The January review is particularly important as it sets the tone for expectations for the new year: investors want to understand whether balance in the oil market will be maintained or if there might be a surplus/deficit. In light of price fluctuations for oil in recent months, the IEA's commentary on the pace of recovering demand in China, the outlook for US shale oil production, and OPEC+ policies may trigger movements in Brent and WTI prices. If the report indicates a tightening of balance (increase in demand or decrease in supply), oil prices may rise, supporting shares of energy companies. Conversely, signals of oversupply or weak demand could weaken commodity prices. Given that today’s reporting companies include oil service giants (e.g., Halliburton) and infrastructure operators (e.g., Kinder Morgan), the IEA report's outcomes may also impact expectations for their earnings. Overall, for investors in the commodity sector and in currency markets of oil-exporting nations (ruble, Canadian dollar, etc.), this report is essential for analysis.
USA: Possible Donald Trump Speech and Housing Market Data
In the afternoon, attention will shift to the USA. A public speech by Donald Trump is scheduled for 16:30 MSK (08:30 NY) according to preliminary information. Although details and the theme of this speech remain uncertain, the market is always attentive to statements from the former US president. If Trump touches on issues of trade policy, taxes, or geopolitics in his speech, it could create fluctuations in relevant sectors and assets. For example, comments regarding tariffs or interactions with other countries could influence sentiment in the industrial sector and on global stock markets. Investors should note that even outside of official office, Trump remains an influential figure: his rhetoric can temporarily heighten volatility, especially in US stock index futures.
Shortly after, at 18:00 MSK, an important indicator of the American housing market will be released—the Pending Home Sales report for December. This indicator reflects the number of home sales in the secondary market that are in the process of closing. In recent months, the US housing market has been under pressure due to high mortgage rates and limited supply. The December data will show whether the slowdown in activity persists or signs of stabilization emerge. Expectations are moderate: analysts do not forecast a sharp spike; rather, the numbers are likely to indicate relatively weak demand for housing. Nevertheless, any deviation from the forecast could impact the market: an increase in the number of transactions would support shares of construction companies and home retailing, while weakness in the indicator would underscore the impact of the Fed's tightening policy on the consumer sector. Collectively, the later part of the day in the USA promises to provide investors with new clues about the state of the economy—from political signals to the "health" of the key housing sector.
Russia Inflation: December Data
At the end of the day, at 19:00 MSK, data on inflation in the Russian Federation for December will be released. Preliminary estimates indicate some slowdown in price growth: the annual consumer price index in Russia may have dropped to 5.5–5.7% YoY, down from around 6.5–6.6% in November. This trend indicates a partial easing of inflationary pressure by the end of the year, aided by the tightening of monetary policy by the Central Bank of Russia in the autumn. However, inflation remains above the Central Bank's target (4%), so market attention will be focused on the details: which categories of goods and services are rising the fastest, and whether there are signs of a new price surge. This data is vital for understanding the Central Bank's future actions. Recently, the regulator cut the key rate to 16% annualized, anticipating a gradual decline in inflation in 2026. If actual inflation matches forecasts or comes in lower, it will bolster confidence that the most stringent measures have come to an end. However, any unexpected acceleration in prices could compel the Central Bank to reconsider its easing plans. For the Russian stock market (index MOEX) and the ruble exchange rate, the CPI numbers will serve as a reference: moderate inflation is positive for bonds and shares of local companies, whereas high values may raise expectations for maintaining high rates for a longer period, which often pressures asset valuations.
Corporate Reports for January 21, 2026
The corporate reporting season is gaining momentum, and this Wednesday, several major public companies from different regions of the world will publish their financial results. The reports cover a broad spectrum of sectors—from healthcare and technology to energy and banking. Below are the main companies whose reports will attract investors' attention today:
- USA (S&P 500): Quarterly results for the fourth quarter of 2025 will be announced by American giants such as Johnson & Johnson (pharmaceuticals and consumer goods), Halliburton (oil service company reflecting trends in the oil and gas sector), The Travelers Companies (one of the leading insurance companies), Prologis (largest REIT in warehouse real estate), and Kinder Morgan (energy infrastructure, pipelines). Additionally, several financial institutions will report: Truist Financial bank, consumer lender Ally Financial, regional bank Citizens Financial Group, and others. These reports will provide a snapshot of the state of the American economy from various perspectives—ranging from demand for medicines and consumer goods (J&J results) to levels of business activity in energy and industry (Halliburton, Prologis) and the health of the financial system (banking reports). Strong results from these components of the Dow Jones and S&P 500 indices could give momentum to the growth of the US stock market, while disappointments may heighten investors' caution.
- Europe (Euro Stoxx 50): Several notable corporate events are also on the agenda in Europe. The financial performance of the global luxury sector leader LVMH (Moët Hennessy Louis Vuitton) is anticipated—investors will look for preliminary sales results for Q4 2025 and the entire year to gauge demand for luxury goods amid the changing economic cycle. Additionally, operational data from mining giant Rio Tinto for Q4 2025 is expected: it will disclose figures on iron ore, copper, and other resources, serving as a barometer of global raw material demand (especially from China). Automotive manufacturer Porsche AG may provide updates on sales and revenues for the end of the year (preliminary trading update), showcasing how the premium automobile sector fared during 2025. Other noteworthy reports include British Experian (leader in credit ratings and data, providing a trading update for Q3 of fiscal 2025) and Swiss conglomerate Barry Callebaut (largest chocolate manufacturer, reporting for Q1 of fiscal 2026). Although there will be fewer European reports today, each is important for understanding the state of its sector: LVMH's results will reflect the demand for premium goods in Europe, Rio Tinto’s data will indicate the trajectory of raw material prices and industry activity, and Porsche’s figures will illustrate consumer sentiment in the automotive market. Their impact will be reflected in European indices and may set the tone for other companies in the region.
- Asia-Pacific Region (Nikkei 225, etc.): Asian markets are also present in the agenda of corporate reports, although the peak season there will come slightly later. Today, the report from Australian coal producer Yancoal (Q4 2025) is noteworthy in the context of demand dynamics for coal and raw materials in Asia. Moreover, Indian pharmaceutical corporation Dr. Reddy’s Laboratories publishes results for Q3 of fiscal 2026: they will reflect both local Indian trends and the company's success in expanding into global generic markets. Currently, no major reports from Japan or China are expected on January 21, as many companies from the Nikkei 225 and the Chinese market will announce their quarterly results in the following weeks. Nevertheless, Asian investors will monitor the global news flow from this day, as data from the USA, Europe, and the IEA oil report influence their markets as well. Overall, the participation of Asian companies in today's news highlights the global nature of the current reporting season.
- Russia (MOEX): No major corporate reports are scheduled in the Russian market today. Many Russian public companies traditionally conclude their year and quarter closer to the end of the quarter or later (the reporting season on the Moscow Exchange will begin in February-March). Thus, Russian investors’ attention on January 21 will primarily focus on global events and domestic macro data (such as the aforementioned inflation). The absence of local reports means that external factors—oil price dynamics, global market sentiment, and currency rates—will determine the movement of the Russian stock index on this day.
In summary, today's stream of corporate news provides investors with extensive material for analysis. The key is to evaluate how the reporting of multinational companies aligns with the macroeconomic picture: positive surprises can improve risk appetite globally, while weak results, at least in one major sector, may temporarily heighten caution in the markets.
What Investors Should Pay Attention To
January 21, 2026 brings together several diverse triggers for the market, and successful navigation on this day will require investors to respond promptly to incoming signals. First and foremost, pay attention to inflation data—both in the UK and Russia (and for a broader picture, in South Africa): price indicators can directly influence currency rates (pound, ruble) and expectations regarding central bank rates. The second important block is comments from leaders: Christine Lagarde’s speech in Davos will provide insights into ECB sentiments, while a potential speech from Donald Trump may introduce unexpected volatility, especially in US markets. The third factor is the commodity markets: the fresh IEA oil report could shift price dynamics, impacting commodity assets and exporter currencies (ruble, Canadian dollar, and Norwegian krone). Finally, do not overlook corporate reports: results from giants such as Johnson & Johnson, Halliburton, and LVMH are indicators of the state of their respective industries (healthcare, energy, luxury consumer demand) and can drive movements in the S&P 500 and Euro Stoxx 50 indices. Comparing corporate trends with the macroeconomic backdrop will help form a comprehensive picture. On this day, it is crucial for investors to maintain a balance of attention between macro- and microeconomic data, responding quickly to key releases. A well-informed analysis of incoming news and an understanding of their interrelationships will be the key to successful investment decisions on this busy news day.
