Detailed Overview of Economic Events and Corporate Reports on January 25, 2026. A Calm Weekend for Markets, Baker Hughes Report, Trade Balance Data from Saudi Arabia, National Holiday in Australia, and Expectations Ahead of Key Decisions from the US Federal Reserve and the Bank of Japan.
Sunday is relatively calm for global markets: major US and European exchanges are closed, and trading activity in the Asia-Pacific region has decreased. Investors are reflecting on the recently concluded World Economic Forum in Davos and preparing for a busy new week. Central bank meetings are in focus, with the US Federal Reserve set to announce its interest rate decision on Wednesday, followed by a potential adjustment in 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 regarding Saudi Arabia's trade balance signals the state of oil exports at the year's end. In this context, it is crucial for investors to use this pause in the market to reassess risks and prepare for volatility in the upcoming week.
Macroeconomic Calendar (MSK)
- 06:00 — Saudi Arabia: November trade balance.
- 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 meeting of the Federal Reserve System in 2026 will take place. Markets expect the base rate to remain unchanged, but the regulator's rhetoric will be closely analyzed. Any signals regarding the Fed's future plans for tightening or easing policy will impact Treasury yields and the dynamics of the S&P 500 and Nasdaq indices.
- The Bank of Japan – will hold a meeting later in the week, during which the yield curve control (YCC) policy may be reviewed. Amid rising yields on Japanese 10-year bonds to multi-year highs, expectations for an expansion of the allowable range have intensified. Any adjustments to YCC parameters could trigger a surge in the yen's exchange rate and affect global bond markets.
Oil and Commodities
- The Baker Hughes report is due to be released amid stable oil prices (Brent holds around the mid-$60 per barrel mark) and a moderately volatile natural gas market. As a leading player in the oilfield services sector, Baker Hughes provides early indicators of activity in the oil industry. Investors are assessing the dynamics of new orders for the company’s equipment and services, as well as management's comments on industry prospects against the backdrop of price trends.
- Saudi Arabia's external trade data for November reflects the state of oil exports from the world's largest exporter. A sustained trade surplus signals stable oil revenues and may support OPEC+ countries' sentiment. However, a reduction in surplus could indicate declines in export volumes or prices, which is important for oil market forecasts. Gold prices remain high (above $3300 per ounce), indicating ongoing demand for safe-haven assets in the face of global uncertainty.
Reporting: United States
- Baker Hughes (NASDAQ: BKR) – a major oilfield services company from the S&P 500 – will publish its report for the fourth quarter of 2025 after the market closes on Sunday. Analysts expect earnings per share of around $0.67 with revenue of approximately $7.1 billion USD. The focus will be on the profitability of the service segment and the volume of new orders for oil extraction equipment. Baker Hughes' results are likely to set the tone for the energy sector ahead of the opening of US markets on Monday.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: In Europe, Sunday is traditionally a day off from corporate releases, and investors are shifting their focus to macroeconomic factors. Early in the upcoming week, the Eurozone is expected to release business climate data along with initial reports from industrial giants, which may set the trend for the Euro Stoxx 50 index. Exchange rates for EUR/USD and GBP/USD remain relatively stable as they react to expectations regarding the decisions from the Fed and the Bank of England.
- Nikkei 225 / Japan: In Tokyo, the third-quarter financial report season for the 2025 fiscal year is ongoing. Throughout the first few days of the week, several technology and industrial companies (e.g., electronics and equipment manufacturers) will report, impacting the Nikkei 225's dynamics. Additionally, the upcoming 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 disclose year-end results closer to the quarter’s end, hence the focus will be on external indicators – oil prices, geopolitical context, and ruble exchange rate movements. Investors in the region will look to global signals and Fed decisions to gauge potential impacts on commodity markets and currencies of emerging markets.
Summary of the Day: What Investors Should Watch
- 1) Baker Hughes: The unexpected Sunday report makes BKR's results an important indicator for the entire oil and gas sector. Strong performance (above expectations for earnings or revenue) may support energy companies’ stocks, while disappointment may increase market caution ahead of the new week.
- 2) The Fed and Macro Policy: A key event looms ahead with the Fed meeting on January 28. Investors should prepare for potential volatility: any hints at changes in US monetary policy could lead to a reassessment of risk assets, from technology stocks to emerging market currencies.
- 3) Bank of Japan and Global Bonds: A potential adjustment of the Bank of Japan’s yield control policy could reflect not only on the Nikkei 225 and yen exchange rate but also on global debt markets. Rising Japanese yields may be transmitted into increased borrowing rates in other countries, making it important for global investors to consider.
- 4) The Oil Market: The combination of data from Saudi Arabia and the Baker Hughes report will provide a fresh perspective on the balance of supply and demand in the oil market. If the statistics indicate solid exports and optimistic service forecasts, oil prices could receive support, which is positive for commodity-related assets and exporting currencies.
- 5) Strategy for the New Week: The current pause in trading presents an opportune moment for portfolio reassessment. Considering the forthcoming events (the Fed, corporate reports, macro data), investors are advised to define acceptable volatility ranges and entry/exit points in advance. Utilizing stop orders and hedging against risks will help meet the new week more prepared, especially given that Monday will start with reduced activity (with no trading in Australia) and markets will require time to react to the complete set of news.
