FX Economic Calendar

June 22 – June 27, 2025

Highlights:
After the United States stuck Iranian nuclear facilities over the weekend, there was a clear flight to safety assets as the DXY rallied again up to 99.4 and gold (still down from its all-time high of $3,450) surged to $3,391 and Oil hit $75 per barrel of crude. However, by Tuesday, after news of a cease-fire regarding the “12-day war” hit, all the assets dropped even lower. DXY is currently at 97.85, at YTD lows. Gold has dropped 2.5% overnight, though recovered slightly trading at 3320. Crude Oil is trading at $65 a barrel.

US Economic Data Releases:
On Monday (June 23rd), S&P Global US Manufacturing PMI data came out at 52, a point above expectations and the highest level since February. The scale is little changed MoM implying moderate economic growth.

On Tuesday (June 24th), the consumer confidence board ranked confidence at 93 vs 99.8 expected, likely due to continued tariff uncertainty, and a slower job market. Fed Chair Powel also delivered his congressional testimony with a hawkish tone, implying no rate cuts for the summer.

On Wednesday (June 25th), New Home sales will be released. After surging in April up 11%, the outlook appears grim given the uncertainty around the long end of the curve keeping mortgage rates high. Powell will return to the stand to testify in front of the senate.

On Thursday (June 26th) initial jobless claims will be released by the Dept of Labor. Estimates show a decline this week, but continuing claims have been trending higher as there appears to be fewer job openings, fewer new hires, and longer bouts of unemployment

Friday (June 27th) will bring PCE data. the Fed’s preferred inflation gauge is set to remain relatively flat as disinflation across goods and services is expected to counteract tariff related inflation.

International Data releases:
There are a lot of CPI releases this week including from Australia, Canada, Japan, and more. Jerome Powell is set to continue his congressional testimonies while many of his bank colleagues are also conducting various speaking engagements. Additionally, Banxico has their interest rate decision this week. Banxico will announce their new overnight rate and are widely expected to cut rates for a third consecutive time by 50 bp to 8%. Many foreign central bankers in the Eurozone, Japan, and Brazil also are speaking this week as the world welcomes fresh inflation and labor market data.

Economic Calendar

Central Bank Announcements