FX Economic Calendar

December 14 – December 19, 2025 Economic report and policy meeting

 

December 14

China:  Retail Sales (YoY) – November, Industrial Production (YoY) – November, Unemployment Rate – November, House Price Index (YoY) – November, Fixed Asset Investment YTD (YoY) – November

Euro-Zone:  Germany: Wholesale Prices (YoY and MoM) – November

Japan:  Tankan Large Manufacturers Index – 4^th Qtr.

 

December 15

Australia:  Westpac Consumer Confidence Change – December, Westpac Consumer Confidence Index – December

Canada:  Inflation Rate (YoY) – November, CPI Median (YoY) – November, Consumer Price Index (CPI) Trimmed-Mean (YoY) - November    

China:  Foreign Direct Investment (FDI) YTD (YoY) – November       

New Zealand:  Half year Economic and Fiscal Update   

U.K.:  Employment Change – October, Unemployment Rate – October, Average Earnings including Bonus (3M/Yr) - October     

U.S.:  New York Empire State Manufacturing Index – December, National Association of Home Builders (NAHB) Housing Market Index – December, Federal Reserve’s Miran and Williams Speeches

 

December 16

Canada:  Bank of Canda (BoC) Macklem Speech  

Euro-Zone:  Germany: ZEW Economic Sentiment Index – December, Balance of Trade – October, ZEW Economic Sentiment Index – December, Italy: Balance of Trade - October     

Japan:  Balance of Trade – November, Machinery Orders (YoY and MoM) – October, Exports (YoY) – November

New Zealand:  Current Account – 3^rd Qtr.

Thailand:  Interest Rate Decision

U.K.:  Inflation Rate (YoY) – November, Core Inflation Rate (YoY and MoM) - November

U.S.:  Automatic Data Processing (ADP) Employment Change Weekly, Building Permits – September, Housing Starts – September, Nonfarm Payrolls Private – October, Nonfarm Payrolls – October, Retail Sales Control Group (MoM) – October, Retail Sales Excluding Gas/Autos – October, Retail Sales (YoY and MoM) – October, Retail Sales Excluding Autos – October, Building Permits – October, Housing Starts – October, U-6 Unemployment Rate – November, Nonfarm Payrolls Private – November, Nonfarm Payrolls – November, Unemployment Rate – November, Housing Starts – November, Building Permits – November, Housing Starts (MoM) – September, Building Permits (MoM) – September, Average Hourly Earnings (YoY and MoM) – October, Building Permits (MoM) – October, Housing Starts (MoM) – October, Average Hourly Earnings (YoY and MoM) – November, Participation Rate – November, Building Permits (MoM) – November, Housing Starts (MoM) – November, Business Inventories (MoM) – September, API Crude Oil Stock Change – December 12

The Bureau of Labor Statistics releases the jobs report for November, along with partial October data that were delayed by the record-long government shutdown. Economists forecast a 50,000 increase in non-farm payrolls, after a 119,000 gain in September. The unemployment rate is expected to remain unchanged at 4.4%. Job growth has slowed this year to 76,000 a month on average through September, less than half compared with the same period last year. Even the 76,000 figure may be high, as Fed Chair Jerome Powell said this past week that the April-through-September jobs data might have been overstated by 60,000 a month.

The Census Bureau reports retail sales statistics for October. Consensus estimate is for a 0.2% month-over-month increase, which would match September’s gain. Excluding autos, sales are seen rising 0.3%.

 

December 17

Euro-Zone:  Consumer Price Index (CPI) – November, Germany: Ifo Business Climate – December, France: Business Confidence – December  

Netherlands:  Unemployment Rate - November

New Zealand:  GDP Growth Rate (YoY and QoQ) – 3^rd Qtr.

South Africa:  Inflation Rate (YoY and MoM) – November

Switzerland:  Balance of Trade – November

U.K:  Confederation of British Industries (CBI) Industrial Trends Orders – December  

U.S.:  Retail Sales Control Group (MoM) – November, Retail Sales Excluding Autos (MoM) – November, Retail Sales Excluding Gas/Autos (MoM) – November, Retail Sales (YoY and MoM) – November, Business Inventories (MoM) – October, Mortgage Bankers Association (MBA) 30-Year Mortgage Rate – December 12, EIA Gasoline Stocks Change – December 12, EIA Crude Oil Stocks Change – December 12, Federal Reserve’s Waller, Williams, and Bostic Speeches

 

December 18

Euro-Zone:  European Central Bank (ECB) Interest Rate Decision, Deposit Rate Facility, ECB Press Conference, Germany: GfK Consumer Confidence – January, European Central Bank (ECB) Macroeconomic Projections       

Japan:  Bank of Japan (BoJ) Interest Rate Decision, Inflation Rate (YoY) – November, Core Inflation Rate (YoY) – November, BoJ Governor Ueda Speech

Mexico:  Interest Rate Decision   

Netherlands:  Consumer Confidence – December

New Zealand:  ANZ Business Confidence – December, Balance of Trade – November  

U.K.:  Bank of England (BoE) Interest Rate Decision, Retail Sales Excluding Fuel (YoY and MoM) – November, Retail Sales (YoY and MoM) – November, MPC Meeting Minutes, BoE Vote Cut, BoE Vote Hike, BoE Vote Unchanged, GfK Consumer Confidence – December, GfK Consumer Confidence - December

U.S.:  Consumer Price Index (CPI) – November, CPI s.a. – November, Inflation Rate (MoM) – November, Core Inflation Rate (YoY and MoM) – November, Inflation Rate (YoY) – November, Continuing Jobless Claims – December 6, Initial Jobless Claims – December 13, Jobless Claims 4-week Average – December 13, Philadelphia Federal Reserve Manufacturing Index – December, Net Long-term Treasury International Capital (TIC) Flows – October

The BLS releases the consumer price index for November. The consensus call is for a 3.1% increase from a year earlier. The core CPI, which excludes volatile food and energy prices, is expected to rise 3% year over year. This compares with readings of 3% for both indexes in September. The BLS could not collect October inflation data due to the government shutdown.

 

December 19

Canada:  Retail Sales (YoY and MoM) – October, Retail Sales Excluding Autos (MoM) – October, Retail Sales (MoM) – November, New Housing Price Index (MoM) – November  

China:  Loan Prime Rate – 1Y, Loan Prime Rate 5Y – December

Euro-Zone:  Consumer Confidence – December, Italy: Business Confidence – December, Consumer Confidence – December

Switzerland:  Current Account – 3^rd Qtr.

U.K.:  Confederation of British Industries (CBI) Distributive Trades – December       

U.S.:  Existing Home Sales – November, Existing Home Sales (MoM) – November, University of Michigan Consumer Sentiment Index – December    

 

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.