August 11 – August 15, 2025 Economic report and policy meeting
August 11
Australia: NAB Business Confidence – July, Reserve Bank of Australia (RBA) Interest Rate Decision, RBA Press Conference
Euro-Zone: Greece: Unemployment Rate – June, Italy: Balance of Trade - June
U.K.: Employment Change – June, Unemployment Rate – June, Average Earnings including Bonus (3Mo/Yr) - June
August 12
Australia: Home Loans (QoQ) – 2nd Qtr., Investment Lending for Homes – 2nd Qtr.
Euro-Zone: ZEW Economic Sentiment Index – August, Germany: Wholesales Prices (YoY and MoM) - July
U.S.: Inflation Rate (YoY) – July, Consumer Price Index (CPI) – July, CPI s.a. – July, Inflation Rate – July, Inflation Rate (MoM) – July, Core Inflation Rate (YoY) – July, API Crude Oil Stock Change – August 8, Monthly Budget Statement – July, Federal Reserve’s Barkin and Schmid Speeches
The Bureau of Labor Statistics releases the consumer price index for July. Consensus estimate is for a 2.8% year-over-year increase, one-tenth of a percentage point more than in June. The core CPI, which excludes food and energy prices, is expected to rise 3%, compared with 2.9% previously. Traders have priced in a 90% chance of an interest-rate cut at the FOMC’s mid-September meeting, up from 40% before the release of the jobs report on Aug. 1, which showed a weakening labor market. But with two CPI prints before the FOMC meeting expected to show accelerating inflation, the other side of the Federal Reserve’s dual mandate will help determine whether the White House gets the rate cuts it covets.
August 13
Australia: Employment Change – July, Unemployment Rate – July, Full Time Employment Change - July
Canada: Bank of Canada (BoC) Summary of Deliberations
Euro-Zone: Germany: ZEW Economic Sentiment Index – August, France: IEA Oil Market Report
U.K.: GDP (MoM) – June, GDP Growth Rate (QoQ) – 2nd Qtr., Growth Rate (YoY) – 2nd Qtr., Goods Trade Balance Non-EU – June, Goods Trade Balance – June, RICS House Price Balance – July, GDP 3-Month Average – June, Business Investment (QoQ) – 2nd Qtr., Industrial Production (MoM) – June, Manufacturing Production (MoM) - June
U.S.: Mortgage Bankers Association (MBA) 30-Year Mortgage Rate – August 8, EIA Gasoline Stocks Change – August 8, EIA Crude Oil Stocks Change – August 8, Federal Reserve’s Barkin, Bostic and Goolsbee Speeches
The strong second-quarter earnings season winds down with nearly 90% of S&P 500 companies having reported results. Of those, more than 80% have beaten earnings-per-share estimates, with about 80% have surpassed sales expectations.
August 14
China: Retail Sales (YoY) – July, Industrial Production (YoY) – July, Unemployment Rate – July, New Yuan Loans – July, House Price Index (YoY) – July, Fixed Asset Investment YTD (YoY) - July
Euro-Zone: Employment Change (YoY and QoQ) – 2nd Qtr., Industrial Production (MoM) - June
Japan: July GDP Growth Rate (QoQ) – 2nd Qtr., GDP Growth Annualized – 2nd Qtr.
New Zealand: Business NZ Purchasing Managers Index (PMI) - July
U.S.: Producer Price Index (PPI) (MoM) – July, Initial Jobless Claims – August 9, Continuing Jobless Claims – August 2, Jobless Claims 4-Week Average – August 9, Core PPI (MoM) – July, Federal Reserve’s Barkin Speech
August 15
China: Foreign Direct Investment (FDI) YTD (YoY) - July
Switzerland: GDP Growth Rate (QoQ) – 2nd Qtr.
U.S.: New York (NY) Empire State Manufacturing Index – August, Retail Sales (YoY and MoM) July, Retail Sales Control Group (MoM) – July, Retail Sales Excluding Autos (MoM) – July, Retail Sales Excluding Gas/Autos (MoM) – July, University of Michigan Consumer Sentiment – August, Import Prices (MoM) – July, Export Prices (MoM) – July, Industrial Production (MoM) – July, Business Inventories (MoM) – June, Net Long-term Treasury International Capital (TIC) Flows – June
The Census Bureau reports retail sales data for July. Economists forecast a 0.5% month-over-month increase, after a 0.6% gain in June.
Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.
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