Next week’s market highlights are numerous, starting with economic data. China’s 2025 GDP, December retail, and industrial data released on Monday will set the tone for the Asia-Pacific markets. On Wednesday, the US December retail sales data will be released, directly reflecting consumer activity. Thursday is even more critical — the release of the US core PCE and PPI inflation indicators, especially the core PCE which is a key reference for the Federal Reserve’s inflation outlook, often has the power to shake market expectations.

Central bank actions are also plentiful. On Tuesday, Fed Governor Kashkari will deliver a speech, providing insights into the Fed’s future policy stance. The same day, there’s an interesting news story — the US Supreme Court will hear a case regarding the removal of a Federal Reserve Board member, involving checks and balances of power. On Friday, the Bank of Japan’s interest rate decision will be announced, likely influencing the yen’s movement.

The week’s grand finale is the Davos Forum, where Trump’s speeches have historically caused waves, and trade and policy signals will be closely analyzed by the market. Coupled with ongoing developments in the Middle East and US-EU tariff negotiations, these factors could push beyond the current oscillation range. The key support level at 4570 is worth closely guarding; a break below could necessitate a reassessment of the subsequent trend.