July 26-August 1, 2025 – Currency Thoughts
Next Week’s Menu: July 26-August 1, 2025
July 25, 2025
Central Banks: Monetary policy reviews are scheduled at the Federal Reserve and in Japan, Great Britain, Brazil, Kyrgyzstan and Georgia. Fed Chairman Powell, Bank of England Governor Bailey, and BOJ Governor Ueda hold press conferences. The Bank of England’s quarterly Monetary Policy Report gets published. Federal Reserve forecasts don not get revised this time.
Tariff Day: The deadline for trade deal or no deal with the United States is Friday, August 1st.
Purchasing Manager Surveys: Over 35 get reported during the week, almost entirely covering the manufacturing sector.
Scheduled U.S. Data Releases: Quarterly employment cost index, GDP and PCE price deflator. Monthly employment situation report (unemployment, jobs growth % average weekly wage growth), personal income and consumption, PCE price deflator, housing prices (both the FHFA and Case-Shiller indices), consumer confidence, pending home sales, construction spending,Dallas Fed manufacturing survey, JOLTS report of worker hires & quits, and ADP estimate of private sector jobs increase. Monthly chain store sales, jobless insurance claims, energy inventories and mortgage applications.
Euroland Releases: GDP, consumer price expectations, economic sentiment, consumer prices, consumer sentiment and unemployment.
Members of the Euro Area: German, French, Italian, Spanish, Belgian, Lithuanian, Portuguese, and Austrian GDP. German, Italian, French, Spanish, and Slovenian CPI. Spanish, Slovakian, Austrian, and Cypriot producer prices. German, Italian, Spanish, Lithuanian, Slovenian, Portuguese, Latvian, Irish, Dutch, Croatian and Estonian retail sales. Portuguese and Croatian industrial production. Finnish, Portuguese and Slovakian consumer confidence. French household spending and German import prices.
U.K. and Switzerland: British Nationwide house price index, shop prices, distributive trades survey, and mortgage approvals. Swiss KOF leading indicator index and ZEW index of investor sentiment.
Eastern Europe: Russian, Czech and Hungarian GDP. Bulgarian and Hungarian PPI. Russian business confidence, unemployment and retail sales. Hungary’s trade balance.
Nordic Europe: Norwegian and Swedish retail sales. Swedish GDP, consumer confidence and trade balance.
Japanese Data: Retail sales, industrial production, unemployment, housing starts and construction orders.
Other Asia: Malaysian and Singaporean producer prices. Indian and South Korean industrial production. Indonesian and Filipino trade balances. South Korean and Hong Kong retail sales. Chinese foreign direct investment and Indian industrial production.
Australia and New Zealand: Australian and New Zealand building permits. Australian quarterly CPI, import prices, retail sales and PPI.
Canada, Brazil and Mexico: Canadian monthly GDP and industrial production. Mexican unemployment and trade balance. Brazilian CPI and industrial production.
Copyright 2025, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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