The Consumer Price Index for the Eurozone is due to be issued tomorrow Friday 31 January 2014. Currently many experts believe that the CPI is unlikely to have changed significantly during the month of January 2014, the month for which the report is covering.

Analysts note that these CPI reports are useful indicators for understanding the status of the economy, providing experts with an additional snapshot of how prices are affecting consumers. Additionally, economists use the CPI report to track inflation in the market, helping them to gauge which adjustments are necessary for promoting their inflationary goals.

The release of the CPI follows the release earlier in the week of Germany's employment figures which remained basically unchanged, despite the addition of some jobs to workforce. Analysts believe that the euro is unlikely to be considerably affected by the release of this report.

Canadian GDP Due to be Issued Friday 

The Gross Domestic Product for Canada is set to be published tomorrow Friday 31 January 2014. The report will relate to the numbers from the month of November 2013. At this time, many experts have stated that they foresee a slight drop in the GDP in comparison with the month before the time period covered in the report.

Readers are reminded that the GDP is the combination of a country?s consumption, investments, government spending and the difference resulting from comparing exports and imports. As such, it provides economists a snapshot of how a country is progressing over a given period of time. 

Analysts assess that the Canadian economy is continuing to hit road bumps as it deals with volatile oil prices and employment issues. Should the report show a loss in GDP, it may serve to cause further troubles for the loonie in its trading. The addition of the decision by the Federal Reserve in their neighbor to the south to cut an additional $10 billion from the stimulus package will likely have a significant influence on the Canadian currency.

Chinese PMI Report to Come Out on Saturday

The Purchasing Managers Indexes for China is expected to be released on Saturday 1 February 2014. The report will cover the figures for the current month of January 2014. At this time, many experts believe that the numbers will point to a slight reduction in the PMI.

As analysts have noted in the past, the factors comprised in the PMI report include inventory levels, supplier deliveries, production, employment environment, and new orders. This report is often used as a tool by economists for determining the health of a nation?s manufacturing sector as well as the overall conditions in the market. If the local or global economy is improving, it shows that there is increasing demand that will appear in the form of new orders and higher production. Moreover, conversely if the economy is more prosperous, then manufacturers can make more hires, improving the level of employment.and helping to put more cash in consumer's pockets for buying goods.

Analysts point to a report here on 20 January 2014 wherein Chinese manufacturers announced that they would begin to scale back their levels of production. This report came in conjunction with falling oil prices as demand for energy dropped from the large scale manufacturers. Chinese production levels are extremely influential as they affect many of the economies that have close ties with the manufacturing superpower. Nearby countries such as Australia, New Zealand, and Japan can have their trade and currencies significantly altered by shifts in the Chinese production, This also applies for the rest of the world that trades heavily with China, and is dependent on cheap Chinese production.

Investors are advised to watch for shifts across the trading spectrum following the release of this report, including currencies, commodities, stocks, and indices.