October 19 – October 24, 2025 Economic report and policy meetings
October 19
China: GDP Growth Rate (YoY) - 3rd Qtr., Industrial Production (YoY) – September, Unemployment Rate – September, Retail Sales – September, Loan Prime Rate 5Y – October, Loan Prime Rate 1Y, House Price Index (YoY) – September, GDP Growth Rate (QoQ) – 3rd Qtr., Fixed Asset Investment YTD (YoY) – September
Euro-Zone: PPI (YoY) – September
Japan: Bank of Japan (BoJ) – Takada Speech
New Zealand: Inflation Rate (QoQ) – 3rd Qtr.
October 20
Australia: Reserve Bank of Australia (RBA) – Jones Speech
Canada: Bank of Canada (BoC) Business Outlook Survey
Japan: Bank of Japan (BoJ) Himino Speech
New Zealand: Balance of Trade – September
Switzerland: Balance of Trade – September
U.S.: Net Long-term Treasury International Capital (TIC) Flows - August
October 21
Canada: CPI Median (YoY) – September, Inflation Rate (YoY) – September, CPI Trimmed-Mean (YoY) – September, Inflation Rate (MoM) – September, Core Inflation Rate (YoY) - September
Euro-Zone: European Central Bank (ECB) President Lagarde Speech
Japan: Balance of Trade – September, Exports (YoY) – September
New Zealand:
U.K.: Inflation Rate (YoY) – September, Inflation Rate (MoM) – September, Core Inflation Rate (YoY) – September
U.S.: American Petroleum Institute (API) Crude Oil Stock Change – October 17, Federal Reserve’s Waller Speech
October 22
Australia: Reserve Bank of Australia (RBA) Bulletin
Euro-Zone: France: Business Confidence – October, Netherlands: Consumer Confidence – October, ECB President Lagarde Speech
U.S.: Mortgage Bankers Association (MBA) 30-Year Mortgage Rate – October 17, EIA Gasoline Stocks Change – October 17, EIA Crude Oil Stocks Change – October 17
October 23
Australia: S&P Global Services Purchasing Managers’ Index (PMI) – October, S&P Global Manufacturing PMI – October, RBA Bullock Speech
Canada: Retail Sales (MoM) – September, Retail Sales (MoM) – August, Retail Sales (YoY) – August, Retail Sales Excluding Autos (MoM) – August
Euro-Zone: ECB Guindos Speech, Spain: Balance of Trade – August, Consumer Confidence – October, France: Consumer Confidence – October
Japan: Inflation Rate (YoY) – September, Core Inflation Rate (YoY) – September, S&P Global Manufacturing Purchasing Managers’ Index (PMI) – October, S&P Global Services PMI - October
U.K.: Retail Sales (YoY and MoM) -September, Retail Sales Excluding Fuel (YoY and MoM) – September, Confederation of British Industries (CBI) Industrial Trends Orders – October, CBI Business Optimism Index – 4th Qtr., Gfk Consumer Confidence - October
U.S.: Initial Jobless Claims – October 4, Continuing Jobless Claims – September 27, Jobless Claims 4-Week Average – October 4, Continuing Jobless Claims – October 4, Initial Jobless Claims – October 11, Jobless Claims 4-week Average – October 11, Continuing Jobless Claims – October 11, Initial Jobless Claims October 18, Jobless Claims 4-Week Moving Average – October 18, Existing Home Sales – September, Existing Home Sales (MoM) – September, Chicago Federal Reserve National Activity Index – September
October 24
China: Foreign Direct Investment (FDI) YTD (YoY) – September
Euro-Zone: HCOB Manufacturing Purchasing Managers’ Index (PMI) – October, HCOB Services PMI – October, Spain: Unemployment Rate – 3rd Qtr., France: HCOB Manufacturing PMI – October, HCOB Services PMI – October, Germany: HCOB Manufacturing PMI – October, HCOB Services PMI – October, HCOB Composite Purchasing Managers’ Index (PMI) France: HCOB Composite PMI – October, Germany: HCOB Composite PMI – October
U.K.: S&P Global Manufacturing PMI – October, S&P Global Services PMI - October
U.S.: Inflation Rate (YoY) – September, Core Inflation Rate (YoY) – September, CPI – September, CPI s.a. – September, Inflation Rate (MoM) – September, Core Inflation Rate (MoM) – September, S&P Global Manufacturing Purchasing Managers’ Index (PMI) – October, S&P Global Services PMI – October, New Home Sales – September, New Home Sales (MoM) – September, University of Michigan Consumer Sentiment Index – October, S&P Global Composite Purchasing Managers’ Index (PMI) – October
The Bureau of Labor Statistics release the consumer price index for September. Economists forecast a 3.1% year-over-year increase, two-tenths of a percentage point more than in August. The core CPI, which excludes food and energy prices, is also expected to rise 3.1%, matching the previous figure. Despite the ongoing government shutdown, some BLS employees were recalled to collect data for this inflation report so the Social Security Administration could set its annual cost-of-living adjustment.
S&P Global releases both its Manufacturing and Services Purchasing Managers’ Indexes for October. Consensus estimates are for a 51.7 reading for the Manufacturing PMI and a 53.5 for the Services PMI. This compares with readings of 52 and 54.2, respectively, in September.
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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