FX Economic Calendar

April 7 – April 11, 2025 Economic report and policy meetings

This week’s focus typically would be on inflation data coming out later this week in the United States (CPI & PPI), Germany (CPI), Japan (PPI) and Mexico (CPI). With this data in hand, it gives the market a better read on the pace of inflation relative to upcoming adjustments to short-term interest rates.

More on the forefront will be on the developments regarding tariffs.  The higher tariff rates on certain countries announced by the White House on April 2 go into effect.  The 10% baseline tariff rate for all countries was effective April 5.  The higher levies include a 34% rate of imported goods from China, 24% from Japan, and 20% from the European Union.  China has announced 34% duties on all U.S. goods that go into effect on April 10, leaving a very small window for negotiations.

This week has a number of central bankers set to speak whose comments might include how monetary policy will be impacted by tariffs.

On Wednesday, the Federal Open Market Committee releases the minutes from its mid-March monetary-policy meeting.  At that meeting the central bank left the federal-funds rate unchanged at 4.25-4.50%.

On Thursday, the Bureau of Labor Statistics release the consumer price index for March.  Economists forecast a 2.6% year-over-year increase, two-tenths of a percentage point less than in February.  The core CPI, which strips out volatile food and energy prices, is seen rising 3%, compared with 3.1% previously.