2026.07.14 2026.07.15
Weekly Economic Calendar for 20.07.2026–26.07.2026

Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/

The US dollar remains the market favorite, supported by continued positive macroeconomic data from the US, the Fed’s moderately hawkish stance, and ongoing tensions in the Middle East.

During the upcoming trading week of July 20–July 26, 2026, market participants will evaluate key macroeconomic data from Canada, New Zealand, the UK, Australia, Germany, and the US, as well as the outcomes of the People’s Bank of China and the European Central Bank meetings. The latter will likely be the main event of the week.

Note: During the coming week, new events may be added to the calendar, and/or some scheduled events may be canceled. GMT time.

Major Takeaways

• Monday: People’s Bank of China meeting, Canadian and New Zealand CPI figures.
• Tuesday: UK labor market data, Euro Area Bank Lending Survey (BLS).
• Wednesday: UK CPI data.
• Thursday: Australian labor market data, ECB meeting.
• Friday: Retail sales in the UK, preliminary PMI from Germany, the Eurozone, the UK, and the US by S&P Global.
• Key event of the week: ECB meeting and interest rate decision.

Monday, July 20

01:15 – CNY: People’s Bank of China Interest Rate Decision

Since May 2012, the People’s Bank of China has been lowering its interest rate to support Chinese manufacturers. Last time, the bank reduced the rate in May 2025 after a long pause, bringing the rate down by 0.1% to its current level of 3.00%.

What will the Chinese central bank do this time after pausing? The People’s Bank of China will likely keep the interest rate unchanged at 3.00% at this meeting, although other decisions are also possible.

Should the People’s Bank of China make statements that deviate from expectations, volatility may increase across the entire financial market, particularly in the Asian market. Investors will closely watch the bank’s assessment of the Chinese economy’s prospects and its policy stance in the short term.

22:45 – NZD: Consumer Price Index for Q2 2026

The Consumer Price Index is a key indicator for assessing inflation, which reflects the retail price movements for a group of goods and services comprising the consumer basket. A positive reading strengthens the New Zealand dollar, while a negative one weakens it.

Previous CPI figures: +0.9% (+3.1% YoY) in Q1 2026.

A relative decline in the indicator readings and a value below the forecast may negatively affect the New Zealand dollar.

Tuesday, July 21

06:00 – GBP: Average Weekly Earnings Over the Last Three Months. Unemployment Rate

The UK Office for National Statistics publishes a report on average weekly earnings covering the period for the last three months, including and excluding bonuses.

This report is a key short-term indicator of changes in the average earnings of employees in the UK. An increase in wages is positive for the British pound, whereas a low indicator value is unfavorable. Forecast: The July report suggests that average earnings, including bonuses, rose again over the last three months (March–May) after gaining +4.4%, +4.1%, +3.8%, +3.9%, +4.2%, +4.7%, +4.7%, +4.8%, +5.0%, +4.7%, +4.6%, +5.0%, +5.3%, +5.5%, +5.6%, +5.9%, +6.0%, +5.6%, +5.2%, +4.3%, +3.8%, +4.0%, +4.5%, +5.7%, +5.9%, +5.7%, +5.6%, +5.6%, +5.8%, +6.5%, +7.2%, +7.9%, +8.1%, +8.5%, +8.2%, +6.9%, +6.5%, +5.8%, +5.9%, +6.0%, +6.5%, +6.0%, +6.1%, +5.5%, +5.2%, +6.4%, +6.8%, +7.0%, +5.6%, +5.7%, +4.8%, +4.3%, +4.2% in previous periods). Average earnings excluding bonuses likewise increased after gaining +3.4%, +3.4%, +3.6%, +3.8%, +4.2%, +4.5%, +4.6%, +4.6%, +4.7%, +4.8%, +5.0%, +5.0%, +5.2%, +5.6%, +5.9%, +5.8%, +5.9%, +5.6%, +5.2%, +4.8%, +4.9%, +5.1%, +5.4%, +6.0%, +6.0%, +6.0%, +6.1%, +6.2%, +6.6%, +7.3%, +7.7%, +7.8%, +7.8%, +7.8%, +7.3%, +7.2%, +6.7%, +6.6%, +6.6%, +6.7%, +6.5%, +6.1%, +5.8%, +5.5%, +5.2%, +4.7%, +4.4%, +4.2%, +4.2%, +4.1%, +3.8%, +3.7%, +3.8% in previous periods). These figures show continued growth in employee earnings levels, which is favorable for the pound. If the figures turn out to be better than the forecast and/or previous values, the currency will likely strengthen. If the data falls short of expectations, the pound will likely weaken.

The UK unemployment data will be released at the same time. Unemployment is expected to stand at 4.9% over the last three months (March–May), after 4.9%, 5.0%, 4.9%, 5.2%, 5.2%, 5.1%, 5.1%, 5.0%, 4.8%, 4.7%, 4.7%, 4.6%, 4.6%, 4.5%, 4.4%, 4.4%, 4.4%, 4.3%, 4.3%, 4.0%, 4.1%, 4.2%, 4.4%, 4.4%, 4.3%, 4.2%, 4.0%, 3.8%, 3.9%, 4.0%, 4.1%, 4.2%, 4.3%, 4.2%, 4.0%, 3.9% in previous periods).

Since 2012, the UK unemployment rate has fallen steadily from 8.0% in September 2012. The unemployment decline is a positive factor for the pound, while its growth negatively impacts the currency.

If the UK labor market data appears to be worse than the forecast and/or the previous value, the pound will be under pressure.

Regardless, when the UK labor market data is released, the pound and the London Stock Exchange are expected to experience increased volatility.

08:00 – EUR: Euro Area Bank Lending Survey (BLS)

A survey of the bank lending system conducted by EU experts in the financial sector is carried out four times a year. The primary goal of the survey is to gather comprehensive information about the conditions of bank lending in the Eurozone.

The ECB officials use this data when making decisions on the bank’s monetary policy. This report may cause increased volatility in the euro and European stock market quotes upon its release if it contains unexpected conclusions regarding lending conditions for businesses and households in the Eurozone.

12:30 – CAD: Canada’s Consumer Price Index

The Consumer Price Index (CPI) reflects the retail price trends of a selected basket of goods and services. Meanwhile, the Core CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. The inflation target for the Bank of Canada ranges between 1% and 3%. A higher CPI reading is a sign of a rate hike and is positive for the Canadian dollar.

Previous values:

• CPI: +1.0% (+3.2% YoY), +0.4% (+2.8% YoY), +0.9% (+2.4% YoY), +0.5% (+1.8% YoY), 0% (+2.3% YoY) in January 2026, +0.1% (+2.4% YoY), 0.2% (+2.2% YoY), +0.1% (+2.4% YoY), -0.1% (+1.9% YoY), +0.3% (+1.7% YoY), +0.1% (+1.9% YoY), +0.6% (+1.7% YoY), -0.1% (+1.7% YoY) in April, +0.3% (+2.3% YoY) in March, +1.1% (+2.6% YoY) in February, +0.1% (+1.9% YoY) in January 2025, -0.4% (+1.8% YoY) in December 2024.
• Core CPI released by the Bank of Canada: +0.6% (+2.2% YoY), +0.2% (+2.1% YoY), +0.2% (+2.5% YoY), +0.4% (+2.3% YoY), +0.2% (+2.6% YoY) in January 2026, +0.2% (+2.9% YoY), +0.6% (+2.9% YoY), +0.3% (+2.8% YoY), 0% (+2.6% YoY), +0.1% (+2.6% YoY), +0.1% (+2.7% YoY), +0.6% (+2.5% YoY), +0.5% (+2.5% YoY) in April, -0.2% (+2.2% YoY) in March, +0.7% (+2.7% YoY) in February, +0.4% (+2.1% YoY) in January 2025, +0.3% (+1.8% YoY) in December 2024.

The data suggest that moderate inflationary pressures persist, which will likely prompt the Bank of Canada to maintain a pause for now. If the expected data is worse than the previous values, it will negatively affect the Canadian dollar, but if the data exceeds expectations, it will bolster the currency.

Wednesday, July 22

06:00 – GBP: UK Consumer Price Index. Core Consumer Price Index

The Consumer Price Index (CPI) measures the retail prices of a group of goods and services comprising the UK consumer basket. The CPI is a key indicator of inflation. The British pound’s movement on the currency market and the London Stock Exchange FTSE 100 index performance depend on the release of the CPI data.

In May, the UK consumer inflation posted +0.2% (+2.8%), after +0.7% (+2.8%), +0.7% (+3.3% YoY) in March, +0.4% (+3.0% YoY) in February, -0.5% (+3.0% YoY) in January 2026, +0.4% (+3.4% YoY) in December 2025, -0.2% (+3.2% YoY) in November, +0.4% (3.6% YoY) in October, 0% (+3.8% YoY) in September, +0.3% (+3.8% YoY) in August, +0.1% (+3.8% YoY) in July, +0.3% (+3.6% YoY) in June, +0.2% (+3.4% YoY) in May, +0.3% (+2.6% YoY) in March, +0.4% (+2.8% YoY) in February, +3.0% YoY in January 2025.

The data suggests persistent inflationary pressures in the UK, which are expected to bolster the British pound, particularly if the actual data surpasses the forecasted values.

An indicator reading below the forecast/previous value may cause the weakening of the British pound since low inflation will force the Bank of England to stick to the loose monetary policy course.

The Core CPI, published by the Office for National Statistics, measures the price change in a selected basket of goods and services (excluding food and energy) over a given period. It is a key indicator for assessing inflation and changes in consumer preferences. A positive result strengthens the British pound, while a negative outcome weakens it.

In May 2026, the core CPI posted +2.8% YoY after +3.1% in April and March, +3.2% in February, +3.1% in January 2026, +3.2% in December and November, +3.4% YoY in October 3.5% in September, 3.6% in August, 3.8% in July, +3.7% in June, +3.5% in May, +3.8% in April, +3.4% in March, +3.5% in February, +3.7% in January 2025. The publication will likely positively impact the British pound in the short term if it exceeds the forecasted and previous values. A reading below the forecast and/or previous values may weaken the pound.

Thursday, July 23

01:30 – AUD: Employment Change. Unemployment Rate

The employment rate reflects the monthly change in the number of employed Australian citizens. An increase in the indicator value positively impacts consumer spending, stimulating economic growth. A high reading is positive for the Australian dollar, while a low reading is negative. Previous indicator values: +40.300 in May, -40,700 in April, +23,300 in March, +49,700 in February, +26,100 in January 2026, +68,500 in December 2025, -28,700 in November, +41,100 in October, +12,800 in September, -11,800 in August, +26,500 in July, +1,000 in June, -1,100 in May, +87,600 in April, +25,500 in March, -54,200 in February, +34,900 in January 2025, +60,000 in December 2024.

Besides, the Australian Bureau of Statistics will publish a report on the unemployment rate. It is an indicator that estimates the ratio of the share of the unemployed population to the total number of working-age citizens. The rise in the indicator readings demonstrates the weakening of the labor market, negatively impacting the national economy. A decrease in the indicator is positive for the Australian dollar.

Forecast: Australian unemployment remained at its lowest levels and stood at 4.4% in June 2026 (against 4.4% in May, 4.5% in April, 4.3% in March and February, 4.1% in January 2026 and December 2025, 4.3% in November and October, 4.5% in September, 4.3% in August, 4.2% in July, 4.3% in June, 4.1% in May, April, March, February, and January 2025, 4.0% in December 2024, 3.9% in November, 4.1% in October, September, and August, 4.2% in July, 4.1% in June, 4.0% in May, 4.1% in April, 3.7% in March and February, 4.1% in January, 3.9% in December and November, 3.8% in October, 3.6% in September, 3.7% in August and July, 3.5% in June, 3.6% in May, 3.7% in April, 3.5% in March and February, 3.7% in January, 3.5% in December, 3.4% in November and October, 3.5% in September and August, 3.4% in July, 3.5% in June, 3.9% in May and April, 4.0% in March and February, 4.2% in January), while the employment rate has increased.

The Reserve Bank of Australia has repeatedly stated that the Australian economy and the central bank’s plans are influenced by key indicators like the level of household debt and spending, wage growth, and the state of the labor market, in addition to the international trade situation. If the indicator readings are lower than expected, the Australian dollar may decline significantly in the short term, while higher data will strengthen the currency.

12:15 – EUR: European Central Bank’s Interest Rate Decision. ECB Monetary Policy Statement

The European Central Bank will publish its decision on the main refinancing operations and the deposit facility rates, which currently stand at 2.40% and 2.25%, respectively.

The ECB’s tight stance on inflation and the level of key interest rates favor the euro, while a softer stance and lower rates weaken it. Given the high inflation in the Eurozone, according to the ECB leadership, the risk balance for the eurozone’s economic outlook remains tilted to the downside.

At the same time, the ECB made it clear that if deflation resumes, rates will be lowered again. The ECB believes that GDP growth could slow significantly or even turn negative, partly due to the energy crisis in the EU, a high degree of uncertainty, weaker global economic activity, tighter financing conditions, and the tariff dispute with the US.

Given high oil prices caused by the conflict in the Middle East, the ECB may take a more hawkish stance, despite the high risk of a recession in the Eurozone. However, a pause cannot be ruled out.

A dovish tone in the statements will negatively impact the euro. Conversely, a hawkish tone regarding the central bank’s monetary policy will bolster the euro.

12:45 – EUR: European Central Bank’s Press Conference

This press conference will draw significant attention from market participants. Volatility may increase not only in the euro but also across the entire financial market if the ECB leaders make unexpected statements. ECB executives will evaluate the current economic situation in the Eurozone and provide insights on the bank’s rate decision. Historically, after some ECB meetings and subsequent press conferences, the euro exchange rate experienced fluctuations of 3%–5% in a short time frame.

A dovish tone in the speech will negatively impact the euro. Conversely, a hawkish tone regarding the central bank’s monetary policy will bolster the euro.

Friday, July 24

06:00 – GBP: UK Retail Sales

The retail sales economic indicator is a key metric that tracks the level of consumer demand and significantly impacts market performance and the national currency. Additionally, it serves as an indirect indicator of inflation, making it a key concern for a country’s central bank and market participants.

The retail sales report is released by the UK Office for National Statistics. The Retail Sales change is considered to indicate the consumer spending level. High indicator values are positive for the British pound, while low readings are negative.

Previous values YoY: 3.2%, 0.1%, +1.4%, +1.6%, +4.6% in January 2026, +1.6% in December 2025.

07:30 – EUR: Manufacturing and Services Purchasing Managers’ Indexes of the German Economy by S&P Global. Composite Purchasing Managers’ Index of the German Economy by S&P Global (Preliminary Release)

The manufacturing and services PMIs are important indicators of the business environment and the health of the German economy. These sectors play a significant role in Germany’s GDP. A reading above 50 indicates a positive outlook and bolsters the euro, while a reading below 50 is negative for the euro. Conversely, data worse than the forecast and/or the previous value will prove to be negative for the euro.

Previous values:

• Manufacturing PMI: 50.3, 50.1, 51.4, 52.2, 50.9, 49.1, 47.0, 48.2, 49.6, 49.5, 49.8, 49.1, 49.0, 48.3, 48.4, 48.3, 46.5, 45.0, 42.5 in December 2024, 43.0, 43.0, 40.6, 42.4, 43.2, 43.5, 45.4, 42.5, 41.9, 42.5, 45.5, 43.3, 40.8, 39.6, 38.8, 40.6, 43.2, 44.5, 44.7, 46.3, 47.3, 47.1, 46.2, 45.1, 47.8, 49.1, 49.3, 52.0, 54.8, 54.6;
• Services PMI: 48.6, 48.1, 46.9, 50.9, 53.5, 52.4, 52.7, 53.1, 54.6, 51.5, 49.3, 50.6, 49.7, 47.1, 49.0, 50.9, 51.1, 52.5, 51.2 in December 2024, 49.3, 51.6, 50.6, 51.2, 52.5, 53.1, 54.2, 53.2, 50.1, 48.3, 47.7, 45.7, 48.2, 50.3, 52.3, 54.1, 57.2, 56.0, 53.7, 50.9, 50.7, 49.2, 46.1, 46.5, 45.0, 47.7, 49.7, 52.4, 55.0, 57.6, 56.1, 55.8;
• Composite PMI: 49.5, 48.8, 48.4, 51.9, 53.2, 52.1, 51.3, 52.4, 53.9, 52.0, 50.5, 50.6, 50.4, 48.5, 50.1, 51.3, 50.4, 50.5, 48.0 in December 2024, 47.2, 48.6, 47.5, 48.4, 49.1, 50.4, 52.4, 50.6, 47.7, 46.3, 47.0, 47.4, 45.9, 46.4, 48.5, 50.6, 53.9, 54.2, 52.6, 50.7, 49.9, 49.0, 46.3, 45.1, 45.7, 46.9, 48.1, 51.3, 53.7, 54.3, 55.1, 55.6.

08:00 – EUR: Manufacturing and Services Purchasing Managers’ Indexes. Composite Purchasing Managers’ Index of Eurozone Manufacturing Activity by S&P Global (Preliminary Release)

The Eurozone manufacturing and services PMIs are significant indicators of the European economy. Readings above 50 are positive and strengthen the euro, while readings below 50 are negative for the currency. If the figures are worse than the forecast and/or the previous value, the euro will be affected negatively.

Previous values:

• Manufacturing PMI: 51.4, 51.6, 52.2, 51.6, 50.8, 49.5, 48.8, 49.6, 50.0, 49.8, 50.7, 49.8, 49.5, 49.4, 49.0, 48.6, 47.6, 46.6, 49.6 in December 2024, 45.2, 46.0, 45.0, 45.8, 45.8, 45.8, 47.3, 45.7, 46.1, 46.5, 46.6, 44.4, 43.1, 47.2, 42.7, 43.4, 44.8, 45.8, 47.3, 48.5, 48.8 in January 2023;
• Services PMI: 49.4, 47.7, 47.6, 50.2, 51.9, 51.6, 52.4, 53.6, 53.0, 51.3, 50.5, 51.0, 50.5, 49.7, 50.1, 51.0, 50.6, 51.3, 51.6 in December 2024, 49.5, 51.6, 51.4, 52.9, 51.9, 52.8, 53.2, 53.3, 51.5, 50.2, 48.4, 48.8, 47.8, 48.7, 50.9, 52.0, 55.1, 56.2, 55.0, 52.7, 50.8 in January 2023;
• Composite PMI: 50.0, 48.5, 48.8, 50.7, 51.9, 51.3, 51.5, 52.8, 52.5, 51.2, 51.0, 50.9, 50.6, 50.2, 50.1, 50.9, 50.2, 50.2, 49.6 in December 2024, 48.3, 50.0, 49.6, 51.0, 50.2, 50.9, 52.2, 51.7, 50.3, 49.2, 47.9, 47.6, 46.5, 47.2, 48.6, 52.8, 54.1, 53.7, 52.0, 50.3, 49.3 in January 2023.

08:30 – GBP: Manufacturing and Services Purchasing Managers’ Index. Composite Purchasing Managers’ Index of the UK Manufacturing Sector by S&P Global (Preliminary Release)

The manufacturing and services PMIs serve as a vital indicator of the UK economy’s health. The services sector employs the majority of the UK’s working-age population and contributes approximately 75% of GDP. Financial services continue to be the most important part of the services sector. If the data is worse than the forecast and the previous value, the British pound will likely experience a short-term but sharp decline. If the data exceeds the forecast and the previous value, it will have a positive impact on the currency. At the same time, a PMI reading above 50 is favorable and strengthens the British pound, while a reading below 50 is negative for the currency.

Previous values:

• Manufacturing PMI: 52.5, 53.9, 53.7, 51.0, 51.7, 51.8, 50.6, 50.2, 49.7, 46.2, 47.0, 48.0, 47.7, 46.4, 45.4, 44.9, 46.9, 48.3, 48.0, 49.9, 51.5, 52.5, 52.1, 50.9, 51.2, 49.1, 50.3, 47.5, 47.0, 46.2, 44.8, 44.3, 45.3, 46.5, 47.1, 47.8, 47.9, 49.3, 47.0, 45.3, 46.5, 46.2, 48.4;
• Services PMI: 48.8, 49.3, 52.7, 50.5, 53.9, 54.0, 51.4, 51.3, 52.3, 50.8, 54.2, 51.8, 52.8, 50.9, 49.0, 52.5, 51.0, 50.9, 51.1 in December 2024, 50.8, 52.0, 51.4, 53.7, 52.5, 52.1, 52.9, 55.0, 53.1, 53.8, 54.3, 53.4, 49.5, 49.3, 51.5, 53.7, 55.2, 55.9, 52.9, 53.5, 48.7, 49.9, 48.8, 48.8, 50.0, 50.9, 52.6;
• Composite PMI: 49.3, 49.7, 52.6, 50.3, 53.7, 53.7, 51.4, 51.2, 52.2, 50.1, 53.5, 51.5, 52.0, 50.3, 48.5, 51.5, 50.5, 50.6, 50.4 in December 2024, 50.5, 51.8, 49.6, 53.8, 52.8, 52.3, 53.0, 54.1, 52.8, 53.0, 52.9, 52.1, 48.7, 48.5, 50.8, 52.8, 54.0, 54.9, 52.2, 53.1, 48.5 in January 2023.

13:45 – USD: Manufacturing and Services Purchasing Managers’ Index of the US Economy by S&P Global. Composite Purchasing Managers’ Index (Preliminary Release)

The PMIs of the most important US economic sectors, released by S&P Global, are an important gauge of US economic conditions. A PMI reading above 50 signals growth in business activity, bolstering the US dollar, whereas a reading below 50 bodes negatively for the greenback.

Previous values:

• Manufacturing PMI: 53.9 55.1, 54.5, 52.3, 51.6, 52.4, 51.8, 52.2, 52.5, 52.0, 53.0, 49.8, 52.0, 52.0, 50.2, 50.2, 52.7, 51.2, 49.4 in December 2024, 49.7, 48.5, 47.6, 47.9, 49.6, 51.6, 51.3, 50.0, 51.9, 52.2, 50.7, 47.9, 50.0, 49.8, 49.0, 46.3, 48.4, 50.2, 47.3, 46.9, 46.2, 47.7, 50.4, 52.0, 51.5;
• Services PMI: 51.2, 50.7, 51.0, 49.8, 51.7, 52.7, 52.5, 54.1, 54.8, 54.2, 54.5, 55.7, 52.9, 53.7, 50.8, 54.4, 51.0, 52.9, 56.8 in December 2024, 56.1, 55.0, 55.2, 55.7, 55.0, 55.3, 54.8, 51.3, 51.7, 52.3, 52.5, 51.4, 50.6, 50.1, 52.3, 54.4, 54.9, 53.6, 50.6, 46.8, 44.7, 46.2, 47.8, 49.3, 43.7, 47.3, 52.7, 53.4, 55.6;
• Composite PMI: 51.9, 51.5, 51.7, 50.3, 51.9, 53.0, 52.7, 54.2, 54.6, 53.9, 54.6, 55.1, 52.9, 53.0, 50.6, 53.5, 51.6, 52.7, 55.4 in December 2024, 54.9, 54.1, 54.0, 54.6, 54.3, 54.8, 54.5, 51.3, 52.1, 52.5, 52.0, 50.9, 50.7, 50.2, 52.0, 53.2, 54.3, 53.4, 52.3, 50.1, 46.8 in January 2023.