Detailed Review of Economic Events and Corporate Reports on January 25, 2026. A Calm Day of Markets, Baker Hughes Report, Saudi Arabia's Trade Balance Data, National Holiday in Australia, and Anticipations Ahead of Key Decisions from the US Federal Reserve and the Bank of Japan.
Sunday is passing relatively calmly for global markets: major exchanges in the US and Europe are closed, while trading activity in the Asia-Pacific region is subdued. Investors are reflecting on the recently concluded World Economic Forum in Davos and preparing for a busy week ahead. The spotlight is on the upcoming meetings of central banks: the US Federal Reserve will announce its rate decision on Wednesday, followed by a potential adjustment of monetary policy by the Bank of Japan. Additionally, the energy sector is highlighted by the Baker Hughes report, published on an unusual day – Sunday. The publication of macroeconomic statistics concerning Saudi Arabia's trade balance signals the state of oil exports at the end of the year. In this context, it is crucial for investors to utilize this market pause for reassessing risks and preparing for the volatility of the upcoming week.
Macroeconomic Calendar (MSK)
- 06:00 — Saudi Arabia: trade balance for November.
- All day — Australia: National Holiday (Australia Day, January 26; Australian markets are closed).
Central Banks: US Federal Reserve and Bank of Japan
- The US Federal Reserve – on Wednesday, January 28, the first Federal Reserve meeting of 2026 will take place. Markets expect the key rate to remain unchanged, but the regulator's rhetoric will be scrutinized closely. Any signals regarding the Fed's future tightening or easing plans will affect Treasury yields and the dynamics of the S&P 500 and Nasdaq indices.
- The Bank of Japan – by the end of the week, the BOJ will hold a meeting where it may reconsider the policy of yield curve control (YCC). With Japanese 10-year bond yields rising to multi-year highs, expectations for an expansion of the permissible corridor have intensified. Any changes to the YCC parameters may trigger a spike in the yen's exchange rate and influence global bond markets.
Oil and Commodities
- The Baker Hughes report (BKR) is released against stable oil prices (Brent remains around the mid-$60 per barrel) and a moderately volatile natural gas market. As one of the leaders in the oil services sector, Baker Hughes provides early indicators of activity in the oil industry. Investors are evaluating the dynamics of new equipment and service orders from the company, as well as management's comments on industry prospects amidst the pricing environment.
- Saudi Arabia's foreign 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 may support OPEC+ countries' sentiment. However, a reduction in the surplus could indicate a decline in export volumes or prices, which is crucial for forecasts regarding the oil market. Gold prices remain high (above $3300 per ounce), indicating sustained demand for safe-haven assets amid global uncertainty.
Financial Reporting: US
- Baker Hughes (NASDAQ: BKR) – a major oil services company from the S&P 500 – will publish its report for Q4 2025 after trading closes on Sunday. Analysts forecast earnings per share around $0.67 and revenue of approximately $7.1 billion USD. Key focus areas include the profitability of the service business and the volumes of new orders for oil extraction equipment. Baker Hughes' results will set the tone for the energy sector ahead of the American markets opening on Monday.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: In Europe, Sunday is traditionally a break from corporate releases, and investors are shifting their attention to macroeconomic factors. At the beginning of the upcoming week, business climate data and preliminary reports from industrial giants in the Eurozone are anticipated, which may drive movements in the Euro Stoxx 50 index. EUR/USD and GBP/USD exchange rates maintain relative stability as they reflect expectations regarding the decisions of the Fed and the Bank of England.
- Nikkei 225 / Japan: The financial reporting season for Q3 of the 2025 fiscal year continues in Tokyo. In the early days of the week, several technology and industrial companies (such as electronics and equipment manufacturers) will report their results, affecting the Nikkei 225's dynamics. Additionally, the approaching meeting of the Bank of Japan keeps 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 gearing up to unveil their annual results closer to the end of the quarter, thus the focus will be on external benchmarks – oil prices, geopolitical background, and ruble exchange rate movements. Investors in the region will be looking at global signals and the Fed's decisions to assess potential impacts on commodity markets and currencies of emerging economies.
Day's Summary: What Investors Should Focus On
- 1) Baker Hughes: The unexpected release of the report on Sunday makes BKR's results an important indicator for the entire oil and gas sector. Strong performance (above expectations for earnings or revenue) can support shares of energy companies, while disappointing results could heighten market caution ahead of the week start.
- 2) Federal Reserve and Macro Policy: A key event awaits – the Fed meeting on January 28. Investors should prepare for potential volatility: any hints of altering US monetary policy could trigger a reassessment of risk assets, from high-tech stocks to emerging market currencies.
- 3) Bank of Japan and Global Bonds: A potential adjustment in the Bank of Japan's yield curve control policy may affect not only the Nikkei 225 and the yen's exchange rate but also the global debt markets. Any rise in Japanese yields could translate into an increase in interest rates for other countries, which global investors should take into account.
- 4) Oil Market: The combination of data from Saudi Arabia and the Baker Hughes report will provide fresh insight into the balance of supply and demand in the oil market. If the statistics indicate sustained exports and optimistic service forecasts, oil prices may find support, which would be positive for commodity-related assets and exporter currencies.
- 5) Strategy for the New Week: The current trading pause is an opportune moment for portfolio reassessment. Considering the upcoming events (the Fed, corporate reports, macro data), it is advisable for investors to predefine acceptable volatility ranges and entry/exit points. Utilizing stop orders and hedging risks will help approach the new week more prepared, especially noting that Monday will start with reduced activity (absence of trading in Australia) and markets will require time to react to the array of news.
