Detailed Review of Economic Events and Corporate Reports for January 25, 2026: A Calm Weekend for Markets, Baker Hughes Report, Saudi Arabia Trade Balance Data, National Holiday in Australia, and Anticipation Ahead of Key Decisions from the U.S. Federal Reserve and the Bank of Japan.
Sunday is proceeding relatively calmly for global markets: major U.S. and European exchanges are closed, and trading activity is subdued in the Asia-Pacific region. Investors are wrapping up their assessments following the recently concluded World Economic Forum in Davos and gearing up for a busy week ahead. The focus is on the upcoming central bank meetings: on Wednesday, the U.S. Federal Reserve will announce its interest rate decision, followed closely by the potential adjustments to monetary policy from the Bank of Japan. Additionally, the energy sector is highlighted by the report from oilfield services company Baker Hughes, released on an atypical day – Sunday. The publication of macroeconomic statistics on the Saudi Arabian trade balance provides signals on the state of oil exports heading into the end of the year. In these conditions, it is crucial for investors to use the market pause to reassess risks and prepare for the volatility of the coming week.
Macroeconomic Calendar (Moscow Time)
- 06:00 — Saudi Arabia: Trade balance for November.
- All day — Australia: National Public Holiday (Australia Day, January 26; Australian markets are closed).
Central Banks: U.S. Federal Reserve and Bank of Japan
- The U.S. Federal Reserve is set to hold its first meeting of 2026 on Wednesday, January 28. Markets are anticipating the base rate to remain unchanged, however, the regulator's rhetoric will be examined closely. Any signals regarding the Fed's future plans for tightening or easing policy will influence Treasury yields and the dynamics of the S&P 500 and Nasdaq indices.
- The Bank of Japan will convene towards the end of the week, where it may review its yield curve control (YCC) policy. As yields on Japanese 10-year bonds surge to multi-year highs, expectations for an expansion of the permissible range have intensified. Any adjustments to YCC parameters could trigger a spike in the yen exchange rate and impact global bond markets.
Oil and Commodities
- The Baker Hughes report (BKR) is being released amidst stable oil prices (Brent holding around the mid-$60 range per barrel) and a moderately volatile natural gas market. As a leading company within the oilfield services sector, Baker Hughes provides early indicators of activity within the oil industry. Investors are closely monitoring trends in new orders for the company's equipment and services, as well as management's commentary on industry prospects amid current price conditions.
- Saudi Arabia's external trade data for November reflects the state of oil exports from the world's largest exporter. A consistent trade surplus signals stable oil revenues and could support OPEC+ country sentiment. However, a contraction of this surplus could indicate a reduction in export volumes or prices, which is critical for oil market forecasts. Gold prices remain high (above $3300 per ounce), indicating ongoing demand for safe-haven assets amid global uncertainty.
U.S. Earnings Reports
- Baker Hughes (NASDAQ: BKR) – a major oilfield services company within the S&P 500 – will release its Q4 2025 report after markets close on Sunday. Analysts forecast earnings per share around $0.67 and revenue of approximately $7.1 billion USD. Focus areas include service business profitability and volumes of new orders for oil extraction equipment. Baker Hughes' results will set the tone for the energy sector ahead of the U.S. markets opening on Monday.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: In Europe, Sunday is traditionally a day off for corporate releases, so investors are turning their attention to macroeconomic factors. At the beginning of the week, data on business sentiment and initial reports from industrial giants are expected in the Eurozone, which may set direction for the Euro Stoxx 50 index. Currency pairs EUR/USD and GBP/USD remain relatively stable, factoring in expectations from the Federal Reserve and Bank of England decisions.
- Nikkei 225 / Japan: In Tokyo, the earnings reporting season for Q3 of the 2025 financial year is ongoing. In the early days of the week, several technology and industrial companies (such as electronics and equipment manufacturers) will report earnings, and their results will impact the Nikkei 225 dynamics. Additionally, the impending Bank of Japan meeting is keeping the Japanese bond market and banking sector on edge.
- MOEX / Russia: In the Russian market (MOEX index), there are no significant publications over the weekend. Major blue-chip companies are preparing to release their annual results closer to the end of the quarter, thus, external indicators—such as oil prices, geopolitical background, and ruble exchange rate movements—remain in focus. Investors in the region will look to global signals and the Federal Reserve's actions to gauge potential impacts on commodity markets and currencies of emerging economies.
Key Takeaways for Investors
- 1) Baker Hughes: The unexpected Sunday report makes BKR's results an important indicator for the entire oil and gas sector. Strong performance (exceeding earnings or revenue expectations) could support shares of energy companies, while disappointment may heighten caution in the market as the week begins.
- 2) Federal Reserve and Macroeconomic Policy: Ahead lies a key event – the Fed meeting on January 28. Investors should prepare for possible volatility: any hints regarding changes in U.S. monetary policy could result in a reassessment of risk assets, from technology company stocks to emerging market currencies.
- 3) Bank of Japan and Global Bonds: A potential adjustment to the Bank of Japan's yield control policy could impact not only the Nikkei 225 and yen exchange rate but also global debt markets. The rise in Japanese yields may translate into increased rates for other countries' debts, which is critical for global investors to consider.
- 4) Oil Market: A combination of data from Saudi Arabia and the Baker Hughes report will provide fresh insights into the balance of supply and demand in the oil market. If the statistics indicate steady exports and optimistic service forecasts, oil prices may receive support, positively affecting commodity-related assets and exporter currencies.
- 5) Strategy for the New Week: The current pause in trading presents an opportune moment for portfolio reassessment. Considering the upcoming events (Federal Reserve, corporate earnings, macro data), it is advisable for investors to pre-determine acceptable volatility ranges and entry/exit points. Utilizing stop orders and hedge risks will help face the new week more prepared, especially as Monday begins with reduced activity (with no trading in Australia) and markets will need time to respond to the upcoming news.
